Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES
1.Identity of the issuer or the   Aberforth Smaller Companies
underlying issuer of existing     Trust plc
shares to which voting rights are
attached:
2. Reason for the notification:
An acquisition or disposal of     Yes
voting rights
An acquisition or disposal of     N/A
financial instruments which may
result in the acquisition of
shares already issued to which
voting rights are attached
An event changing the breakdown   N/A
of voting rights
Other (please specify):           N/A

3. Full name of person(s) subject Newton Investment Management
to the notification obligation    Limited
4. Full name of shareholder(s)    Newton Investment Management
(if different from 3.):           Limited
5. Date of the transaction (and   23 April 2007
date on which the threshold is
crossed or reached if different):
6. Date on which issuer notified: 24 April 2007
7. Threshold(s) that is/are       Reduction from 7.16% to 6.95%
crossed or reached:
8. Notified details:              N/A

A: Voting rights attached to shares
Class/type  Situation               Resulting situation after the
of          previous to the         triggering transaction
shares if   Triggering
possible    transaction
using the
ISIN CODE
           Number     Number     Number  Number of        % of voting
           of         of         of      voting           rights
           Shares     Voting     Shares  rights
                      Rights
                                         Direct Indirect  Direct  Indirect
Ordinary   7,074,497  7,074,497  n/a     n/a   6,866,332  n/a     6.95%
1p Shares
GB0000066554

B: Financial Instruments
Resulting  situation after the triggering transaction

Type of    Expiration  Exercise/   Number of voting       % of voting
financial  date        Conversion  rights that may be     rights
instrument             Period/     acquired if the
                       Date        instrument is
                                   exercised/ converted.
N/A         N/A        N/A         N/A                    N/A

Total (A+B)
Number of voting rights      % of voting rights
6,866,332                    6.95%

9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable

Newton Investment Management Limited hold these shares as a
discretionary Investment Manager.

Proxy Voting:
10. Name of the proxy holder:          N/A
11. Number of voting rights proxy      N/A
holder will cease to hold:
12. Date on which proxy holder will    N/A
cease to hold voting rights:

13. Additional information:            N/A
14. Contact name:                      David Holland, Aberforth
                                       Partners LLP, Secretaries
                                       to Aberforth Smaller
                                       Companies Trust plc.
15. Contact telephone number           0131-220-0733