Holding(s) in Company

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
     Legal & General Investment Management 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 the interest of the person 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
     HSBC Global Custody Nominee (UK) Ltd a/c 775245-   350,000 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 360509-   103,000 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 357206- 1,948,733 shares
     HSBC Global Custody Nominee (UK) Ltd a/c 866203-   115,000 shares

5)   Number of shares/amount of stock acquired
     7,400 (upon a transfer in to management)

6)   Percentage of issued class
     0.01%

7)   Number of shares/amount of stock disposed
     N/A

8)   Percentage of issued class
     N/A

9)   Class of security
     Ordinary Shares of 1p

10)  Date of transaction
     11 December 2002

11)  Date company informed
    13 December 2002

12)  Total holding following this notification
     2,516,733

13)  Total percentage holding of issued class following this
     notification 3.00%

14)  Any additional information
     N/A

15)  Name of contact and telephone number for queries
     David Holland - 0131 220 0733

16)  Name and signature of authorised company official responsible for
     making this notification
     David Holland for Aberforth Partners, Secretaries.

     Date of notification - 13 December 2002