ABERFORTH SMALLER COMPANIES TRUST PLC - Transaction in Own Shares

London, January 24

Market Purchase by the Company of its own Ordinary Shares

The Board of Aberforth Smaller Companies Trust plc (“ASCoT”) hereby gives notification that, pursuant to the authority granted at the Annual General Meeting of the Company held on 1 March 2016 to make market purchases of the Company’s own shares, a market purchase of 25,000 Ordinary shares of the Company was made today, 24 January 2017, at a price of 1114p per share.

Following the purchase and cancellation of the above shares, 94,378,292 Ordinary shares will remain in issue. A total of 584,500 Ordinary shares have been purchased and cancelled under the above authority.

For further information contact: David Holland, Aberforth Partners LLP,

telephone: 0131 220 0733.

Aberforth Partners LLP, Secretaries – 24 January 2017