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
financial instruments which may
result in the acquisition of
shares already issued to which
voting rights are attached
An event changing the breakdown
of voting rights
Other (please specify):

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   9/2/2009
date on which the threshold is
crossed or reached if different):

6. Date on which issuer notified: 12/2/2009

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

8. Notified details:

A: Voting rights attached to shares
Class/typ  Situation            Resulting situation after the
e of       previous to the      triggering transaction
shares     Triggering
if         transaction
possible
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   3,083,774  3,083,774   -       -      2,847,889       -   2.94%
1p Shares
GB0000066554

B: Financial Instruments
Resulting situation after the triggering transaction
Type of   Expirat  Exercise/   Number of voting       % of voting
financial ion      Conversion  rights that may be     rights
instrumen date     Period/     acquired if the
t                  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
2,847,889                    2.94%

9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable
Clients holdings registered in the name of 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:            N/A

14. Contact name:                      David Holland, Aberforth
                                       Partners LLP, Secretaries
                                       to Aberforth Smaller
                                       Companies Trust plc.

15. Contact telephone number           0131-220-0733