Holding in Company

Aberforth Smaller Companies Tst PLC
17 May 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company
Aberforth Smaller Companies Trust plc


2)   Name of shareholder having a major interest
Liverpool Victoria Friendly Society Limited


3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18
Notification is in respect of holding of the shareholder named in 2 above.

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them
N/A


5)   Number of shares/amount of stock acquired
N/A


6)   Percentage of issued class
N/A


7)   Number of shares/amount of stock disposed
10,500,000


8)   Percentage of issued class
12.56%


9)   Class of security
Ordinary Shares of 1p


10)  Date of transaction
17 May 2001


11)  Date company informed
17 May 2001


12)  Total holding following this notification
Nil


13)  Total percentage holding of issued class following this notification
Nil%


14)  Any additional information
N/A


15)  Name of contact and telephone number for queries
Gordon Young - 0131 220 0733

16)  Name and signature of authorised company official responsible for
     making this notification
Gordon R. Young, For Aberforth Partners, Secretaries.


Date of notification

17 May 2001