Holding in Company

Aberforth Smaller Companies Tst PLC
6 July 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
Royal London Long Term Fund


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
Chase Nominees Limited


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
1,288,801


8)   Percentage of issued class
1.54%


9)   Class of security
Ordinary Shares of 1p


10)  Date of transaction
3 July 2001


11)  Date company informed
5 July 2001


12)  Total holding following this notification
4,354,699


13)  Total percentage holding of issued class following this notification

5.21%


14)  Any additional information
N/A


15)  Name of contact and telephone number for queries
Angus McCallum - 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 - 6 July 2001