Portfolio Update Top Ten Investments

ABERFORTH SMALLER COMPANIES TRUST plc


The Board of Aberforth Smaller Companies Trust plc ("the Company") confirms that, as at 31 March 2007, the top ten
investments ranked by market value (based on bid prices) of the Company's total investable assets were as follows: -

Company                  Value (£) Weight %  Accumulated %
Greggs                  25,929,129      3.0%      3.0%
BSS Group               21,349,985      2.5%      5.5%
Shanks Group            19,570,826      2.3%      7.8%
Holidaybreak            19,446,727      2.3%      10.1%
MyTravel Group          18,244,271      2.1%      12.2%
Headlam Group           17,312,540      2.0%      14.3%
Interserve              16,930,625      2.0%      16.3%
Grainger                15,935,263      1.9%      18.1%
Croda International     14,627,426      1.7%      19.8%
Huntsworth              14,592,230      1.7%      21.5%

Contact for enquiries
David Holland
Aberforth Partners LLP
0131 220 0733

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