Top Ten Investments as at 31 March 2006

ABERFORTH SMALLER COMPANIES TRUST plc


The Board of Aberforth Smaller Companies Trust plc ("the Company") confirms that, as at 31 March 2006, 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                     18,624,191   2.6%            2.6%
BSS Group                  17,427,146   2.4%            5.0%
Holidaybreak               16,448,483   2.3%            7.2%
Carillion                  16,434,966   2.3%            9.5%
Johnson Service Group      16,420,560   2.3%            11.8%
ITE Group                  16,298,301   2.2%            14.0%
Headlam Group              14,506,508   2.0%            16.0%
Grainger Trust             14,340,500   2.0%            18.0%
Brown (N.) Group           14,172,487   2.0%            19.9%
Interserve                 13,269,715   1.8%            21.8%


Contact for enquiries
David Holland
Aberforth Partners LLP
0131 220 0733

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