Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer                     
of existing shares to which voting rights are                         
attached:                                                   Small Companies Dividend Trust Plc                       
                                                                                        
2 Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                                            X
                                                                                        
An acquisition or disposal of qualifying financial instruments which may result         
in the acquisition of shares already issued to which voting rights are attached         
                                                                                        
An acquisition or disposal of instruments with similar economic effect to               
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):
                                                            
3. Full name of person(s) subject to the
notification obligation:                                          Philip J Milton & Company Plc

4. Full name of shareholder(s)                                                          
 (if different from 3.):
  
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                        
reached:                                                                   28 October 2014         
                                                                                        
6. Date on which issuer notified:                                         17 November 2014
                                                                                        
7. Threshold(s) that is/are crossed or reached:                                  4%

8. Notified details:                                                                                        
                                                                                                            
A: Voting rights attached to shares                                                                
                                                                                                            
Class/type    Situation previous             Resulting situation after the triggering transaction            
of            to the triggering                                                                              
shares        transaction                                                                                    
                                                                                                            
                                                                                                            
if possible   Number          Number         Number           Number of voting         % of  voting rights  
using         of              of             of shares        rights                                         
the ISIN      Shares          Voting                                                                         
CODE                          Rights                                                                         
                                             Direct           Direct     Indirect      Direct  Indirect      
                                                                                                            
                                                                                                            
GB0006615826  662707          662707         660838           660838                   3.99%                 
                                                                                                                                                                                   
B: Qualifying Financial Instruments                                                                         
                                                                                                            
Resulting situation after the triggering transaction                                                        
                                                                                                            
Type of financial  Expiration      Exercise/                   Number of voting              % of voting    
instrument         date            Conversion Period           rights that may be            rights         
                                                               acquired if the                              
                                                               instrument is                                
                                                               exercised/ converted.                        
                                                                                                            

                              
C: Financial Instruments with similar economic effect to Qualifying Financial                               
Instruments
                                                                                         
Resulting situation after the triggering transaction                                                        
                                                                                                            
Type of       Exercise price  Expiration    Exercise/         Number of voting     % of voting rights   
financial                     date          Conversion        rights instrument                 
instrument                                  period            refers to            Nominal Delta

                                                                                                   
Total (A+B+C)                                                                                               
                                                                                                            
Number of voting rights                            Percentage of voting rights                              
                                                                                                            
660838                                             3.99%


9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable:                         
                                                                                                   
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                           
                                                                                        
11. Number of voting rights proxy holder will cease                                     
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold                                       
voting rights:                                                                          

13. Additional information:                                                             
                                                                                        
14. Contact name:                                                                       
                                                                                        
15. Contact telephone number: