Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES
1.Identity of the issuer or the   Aberforth Smaller Companies Trust plc
underlying issuer of existing
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 Rensburg Sheppards Investment
to the notification obligation    Management Limited

4. Full name of shareholder(s)    N/A
(if different from 3.):

5. Date of the transaction (and   2 September 2009
date on which the threshold is
crossed or reached if different):

6. Date on which issuer notified: 4 September 2009

7. Threshold(s) that is/are       3%
crossed or reached:

8. Notified details:
A: Voting rights attached to shares
Class/type  Situation         Resulting situation after the
of shares   previous to the   triggering transaction
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    2,913,930 2,913,930                2,885,989         2.98%
1p Shares
GB0000066554

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction

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

C: Financial Instruments with similar economic
effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction

Type       Exercise   Expiration Exercise/     Number of voting    % of voting
of         Price      Date       Conversion    rights instrument   rights
financial                        Period/       refers to
instrument                       Date
N/A        N/A        N/A        N/A           N/A                 N/A

Total (A+B+C)
Number of voting rights           % of voting rights
2,885,989                         2.98%

9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable:
Client holdings in the name of the Nominee companies 100% owned
by Rensburg Sheppards Investment Management Limited

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:

14. Contact name:                    David Holland, Aberforth Partners LLP, Secretaries

15. Contact telephone number         0131-220-0733