Aberforth Smaller Companies Regulatory News (ASL)

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1.Identity of the issuer or the Aberforth Smaller Companies Trust plc
underlying issuer of existing shares to
which voting rights are attached:

2. Reason for the notification:

An acquisition or disposal of voting N/A
rights

An acquisition or disposal of financial N/A
instruments which may result in the
acquisition of shares already issued to
which voting rights are attached

An event changing the breakdown of voting N/A
rights

Other (please specify): Company requested updated disclosure
form original disclosure of 26 January
2009 due to share buybacks by the
Company since that date.

3. Full name of person(s) subject to the Legal & General Group Plc (L&G) notification obligation

4. Full name of shareholder(s) (if N/A
different from 3.):

5. Date of the transaction (and date on 26 January 2009
which the threshold is crossed or reached
if different):

6. Date on which issuer notified: 20 January 2012

7. Threshold(s) that is/are crossed or Below 4%
reached:

8. Notified details:


A: Voting rights attached to shares

Class/type Situation previous to Resulting situation after the triggering of shares the Triggering

transaction
transaction
if possible
using the Number of Number of Number of Number of voting % of voting
ISIN CODE Shares Voting Rights Shares rights rights

Direct Direct Indirect Direct Indirect

Ordinary 1p 4,037,372 4,037,372 2,985,283 2,985,283 3.10%
Shares

GB000006655


B: Financial Instruments

Resulting situation after the triggering transaction

Type of Expiration Exercise/ Number of voting rights that may be % of
financial date Conversion acquired if the instrument is voting
instrument Period/ Date exercised/ converted. rights

N/A N/A N/A N/A N/A

Total (A+B)

Number of voting rights % of voting rights

2,985,283 3.10%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable

Legal & General Group Plc (Direct and Indirect) (Group)

Legal & General Investment Management (Holdings) Limited (LGIMH)
(Direct and Indirect)

Legal & General Investment Management Limited (Indirect) (LGIM)

Legal & General Group Plc (Direct) (L&G) (2,985,283- 3.10% = LGAS, LGPL & PMC)

Legal & General Investment Management (Holdings) Legal & General Limited (Direct) (LGIMHD)

Insurance Holdings
Limited (Direct) (LGIH)

Legal & General Assurance (Pensions Management) Legal & General
Limited (PMC) Assurance Society
Limited (LGAS & LGPL)

Legal & General Pensions
Limited (Direct) (LGPL)

Proxy Voting:

10. Name of the proxy holder: N/A

11. Number of voting rights proxy holder N/A
will cease to hold:

12. Date on which proxy holder will cease to N/A
hold voting rights:


13. Additional information: Notification using total voting
rights of 96,138,792 Ordianry Shares

14. Contact name: David Holland, Aberforth Partners LLP
Secretaries

15. Contact telephone number 0131-220-0733