RNS Number:1127Z
Aberforth Smaller Companies Tst PLC
25 July 2002

ABERFORTH SMALLER COMPANIES TRUST plc ("ASCoT")





The Net Asset Values ("NAVs") per Ordinary Share at the close of business on 24
July 2002 for the above company were:-



Basic/Undiluted NAV (Warrants Unexercised)                   351.09p

(Excluding Current Year Revenue)

Fully Diluted NAV (Warrants Exercised)                       346.86p

(Excluding Current Year Revenue)



Basic/Undiluted NAV (Warrants Unexercised)                   357.63p

(Including ALL Revenue)

Fully Diluted NAV (Warrants Exercised)                            353.35p

(Including ALL Revenue)



As at 24 July 2002, ASCoT held 96 investments, the largest of which represented
3.3% of investable assets.  The market value of investments was £292.0m and
total Shareholders' Funds were £297.1m.  Details of the top 50 holdings, the
portfolio's sectoral composition and other general information can be found
within Aberforth Partners' website at http://www.aberforth.co.uk.



ASCoT invests only in small UK quoted companies and does not invest in any
unquoted securities, AiM listed securities or securities issued by investment
trusts or investment companies.  ASCoT has bank debt facilities available to
allow gearing of up to 25.0% of Shareholders' Funds of which 0.0% is currently
utilised.



The number of Ordinary Shares of 1p currently in issue is 83,855,423.  The
number of Warrants to subscribe for Ordinary Shares of 1p currently in issue is
1,434,811.



Dividends are paid, semi-annually, to Ordinary Shareholders with the interim
announced each July and paid in September and the final announced each January
and paid in March.





Contact - Angus McCallum (Tel: 0131 220 0733)

Aberforth Partners, Secretaries - 25 July 2002





ANNOUNCEMENT ENDS






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