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
The Royal Bank of Scotland Group plc

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
As stated 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
                                                  
No of Shares                                      
Adam & Company International Noms Ltd       47,800
BNY GIL Client a/c Noms Ltd                209,948
NatWest FIS Noms Ltd SX a/c                 20,400
National Westminster Bank plc                4,500
Strand Nominees Ltd                          1,900
State Street Nominees Ltd                  250,688
Ulster Bank Ltd                             61,000
BONY (OCS) Noms Ltd                      1,958,000


5) Number of shares/amount of stock acquired
Not disclosed

6) Percentage of issued class
N/A

7) Number of shares/amount of stock disposed
Not disclosed

8) Percentage of issued class
N/A

9) Class of security
Ordinary Shares of 1p

10) Date of transaction
Not disclosed

11) Date company informed
7 February 2003

12) Total holding following this notification
2,554,236

13) Total percentage holding of issued class following this notification
3.05%

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 - 7 February 2003