SMALL COMPANIES DIVIDEND TRUST PLC - Net Asset Value(s)

SMALL COMPANIES DIVIDEND TRUST PLC

"The Company announces:

Total Assets (including unaudited revenue reserves at 22 August 2014)
of £39.89m

Net Assets (including unaudited revenue reserves at 22 August 2014) of £30.27m

The Net Asset Value (NAV) at 22 August 2014 was:

                                                              Number of shares
                                                                      in issue
Per Ordinary share (bid price) - including
unaudited current period revenue*                182.90p            16,550,000
Per Ordinary share (bid price) - excluding
current period revenue*                          180.18p
Ordinary share price                             169.00p
Discount to NAV                                 (7.60)%
Ordinary shares have an undated life

ZDP share                                        112.26p            8,500,000
ZDP shares are held in a subsidiary and have a redemption date
of 8 January 2018

*Current period revenue covers the period 01 May 2014 to 22 August 2014