Portfolio Update Top Ten Investments

ABERFORTH SMALLER COMPANIES TRUST plc


The  Board  of Aberforth Smaller Companies Trust plc ("the Company")  confirms
that,  as at 30 September 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                 25,967,005    3.2%         3.2%
Thomas Cook Group      19,608,872    2.5%         5.7%
BSS Group              17,839,870    2.2%         7.9%
Abbot Group            16,579,951    2.1%        10.0%
Interserve             16,539,317    2.1%        12.1%
MITIE Group            16,411,500    2.1%        14.1%
Shanks Group           16,224,142    2.0%        16.2%
Hampson Industries     15,695,284    2.0%        18.1%
RPC Group              14,749,193    1.8%        20.0%
Huntsworth             14,384,598    1.8%        21.8%

Contact for enquiries
David Holland
Aberforth Partners LLP
0131 220 0733

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