Holding(s) in Company

TR-1 (i) NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached (ii):

Small Companies Dividend Trust PLC

2. Reason for the notification                                        State    
                                                                     Yes/No    
                                                                               
An acquisition or disposal of voting rights                                    
                                                                               
An acquisition or disposal of financial instruments which may                  
result in the                                                                  
acquisition of shares already issued to which voting rights are                
attached                                                                       
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify): Initial Disclosure                             Yes     

3. Full name of person(s) subject to the notification obligation  Premier Fund 
(iii):                                                              Managers   
                                                                     Limited   
                                                                               
4. Full name of shareholder(s) (if different from 3.) (iv):                    
                                                                               
5. Date of the transaction (and date on which the threshold is         N/A     
crossed                                                                        
or reached if different) (v):                                                  
                                                                               
6. Date on which issuer notified:                                 20 March 2007
                                                                               
7. Threshold(s) that is/are crossed or reached:                        7%      
                                                                               
8. Notified details:                                                   N/A     

A: Voting rights attached to shares

Class/type of  Situation previous    Resulting situation after the triggering   
    shares             to                        transaction (vii)              
 if possible     the Triggering                                                 
using the ISIN  transaction (vi)                                                
     CODE                                                                       
                                                                                
                Number    Number    Number    Number of voting    % of voting   
                  of        of        of        rights (ix)          rights     
                Shares    Voting    shares                                      
                          Rights                                                
                          (viii)                                                
                                                                                
                                    Direct    Direct   Indirect Direct  Indirect
                                                (x)      (xi)                   
                                                                                
 GB0006615826  1,179,777 1,179,777 1,179,777 1,179,777           7.26%          
                                                                                

B: Financial Instruments

Resulting situation after the triggering transaction (xii)

   Type of     Expiration       Exercise/        Number of voting       % of   
  financial    date (xiii)      Conversion      rights that may be     voting  
 instrument                 Period/ Date (xiv)    acquired if the      rights  
                                                    instrument                 
                                                   is exercised/               
                                                     converted                 
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 % of voting rights                     
                                                                               
1,179,777                               7.26%                                  

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are
effectively held, if applicable (xv):



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:                                                  

Annex Notification Of Major Interests In Shares (xvi)


A: Identity of the person or legal entity subject to the                       
notification obligation                                                        
                                                                               
Full name (including legal form for legal entities)           Premier Fund     
                                                              Managers Limited 
                                                                               
Contact address (registered office for legal entities)        Eastgate Court,  
                                                              High Street,     
                                                              Guildford,       
                                                              Surrey, GU1 3DE  
                                                                               
Phone number                                                  01483 306090     
                                                                               
Other useful information (at least legal representative for   See Below        
legal persons)                                                                 
                                                                               
B: Identity of the notifier, if applicable (xvii)                              
                                                                               
Full name                                                     Mark Boswell     
                                                                               
Contact address                                               Eastgate Court,  
                                                              High Street,     
                                                              Guildford,       
                                                              Surrey, GU1 3DE  
                                                                               
Phone number                                                  01483 306090     
                                                                               
Other useful information (e.g. functional relationship with   For and on behalf
the person                                                    of Premier Fund  
or legal entity subject to the notification obligation)       Managers Limited.
                                                                               
                                                              Compliance       
                                                              Department       

C: Additional information