Substantial Shareholding

BFS Small Co Div Tst PLC
30 November 2000


BFS SMALL COMPANIES DIVIDEND TRUST PLC

The Company was today informed that on 29 November 2000, Aberdeen Asset
Managers Limited sold 2,200,000 Ordinary 25p shares, on behalf of Leveraged
Income Fund Limited.

Leveraged Income Fund Limited now holds 756,000 Ordinary 25p shares
representing 4.80% of the issued class of capital.

The Company was also today informed that on 29 November 2000, Aberdeen Asset
Managers Limited purchased 2,200,000 Ordinary 25p shares, on behalf of
discretionary funds under management.

The total number of Ordinary 25p shares managed by Aberdeen Asset Managers
Limited and its associated companies remains 3,150,000 (representing 20.00% of
the issued share capital of that class).