Dunedin Smaller Cos. Investment Trust PLC Regulatory News (DNDL)

2. Reason for the notification

StateYes/No

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in theacquisition of shares already issued to which voting rights are attached

No

An event changing the breakdown of voting rights

No

Other (please specify):

No

3. Full name of person(s) subject to the notification obligation (iii):

Derbyshire County Council

4. Full name of shareholder(s) (if different from 3.) (iv):

Harewood Nominees limited

5. Date of the transaction (and date on which the threshold is crossedor reached if different) (v):

21st November 2017

6. Date on which issuer notified:

21st November 2017

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

From over 5% to below 3%

8. Notified details:

Class/type of shares if possible using the ISIN CODE

Situation previous tothe Triggeringtransaction (vi)

Resulting situation after the triggeringtransaction (vii)

NumberofShares

NumberofVotingRights (viii)

Numberofshares

Number of votingrights (ix)

% of votingrights

Direct

Direct(x)

Indirect(xi)

Direct

Indirect

Ordinary 5p/ GB00B1GCL258

2,819,000

2,819,000

819,000

1.71

Type of financialinstrument

Expirationdate (xiii)

Exercise/ConversionPeriod/ Date (xiv)

Number of votingrights that may beacquired if the instrumentis exercised/converted

% of votingrights

Total (A+B)

Number of voting rights

% of voting rights

1.71

10. Name of the proxy holder:

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

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

13. Additional information:

14. Contact name:

Gordon Hay Smith

15. Contact telephone number:

0131 528 4287