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

Adam & Company Intl. Nominees Ltd    46,100 shares
BNY GIL Client a/c Nominees Ltd      209,948 shares
NatWest FIS Nominees Ltd SX a/c      20,400 shares
Strand Nominees Ltd                  4,500 shares
Ulster Bank Ltd                      61,000 shares
BONY (OCS) Nominees Ltd              1,958,000 shares
Mellon Nominees UK Ltd NIFF 3000032  1,640,254 shares


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
31 March 2003

12) Total holding following this notification
3,940,202

13) Total percentage holding of issued class following this notification
4.69%

14) Any additional information


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 - 31 March 2003