Purchase of Own Securities

Aberforth Smaller Companies Tst PLC
18 May 2001


ABERFORTH SMALLER COMPANIES TRUST plc

Aberforth Smaller Companies Trust plc announces that on 17 May 2001 it
purchased for cancellation, at a price of 243.0p each, a further 628,988 of
its Warrants to subscribe for Ordinary Shares of 1p.  Since the last
notification on 11 August 1999, the Company has purchased a total of 678,988
Warrants.  Following the cancellation of these Warrants, there will be
1,879,293 Warrants remaining in issue.


Date of announcement - 18 May 2001.


Contact for enquiries:-

Angus McCallum

Aberforth Partners

0131 220 0733