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

Small Companies Dividend Trust PLC

The Company announces:

Total Assets (including unaudited revenue reserves at 27/02/2015) of £42.24m

Net Assets (including unaudited revenue reserves at 27/02/2015) of £32.41m



The Net Asset Value (NAV) at 27/02/2015 was:

                                                                      Number of
                                                                      shares in
                                                                         issue:

Per Ordinary share (bid price) - including               195.81p  16,550,000.00
unaudited current period revenue*

Per Ordinary share (bid price) - excluding current       192.25p
period revenue*

Ordinary share price                                     170.00p

Discount to NAV                                         (13.18)%

Ordinary shares have an undated life



ZDP share                                                115.69p   8,500,000.00

ZDP share price                                          126.50p

Premium to NAV                                             9.34%

ZDP shares are held in a subsidiary and have a redemption date of 08/01/2018



*Current period revenue covers the period 01/05/2014 to 27/02/2015



       Name of company                                   % of portfolio

     1 Clarke (T.) Plc Ordinary 10p                                2.68

     2 Connect Group Plc Ordinary 5p                               2.49

     3 Acal Plc Ordinary 5p                                        2.44

     4 Alumasc Group (The) Plc Ordinary 12.5p                      2.35

     5 Stadium Group Plc Ordinary 5p                               2.27

     6 GVC Holdings Plc Common EUR0.01                             2.24

     7 Kcom Group Plc Ordinary 10p                                 2.17

     8 Town Centre Securities Plc REIT 25p                         2.06

     9 Marston's Plc Ordinary 7.375p                               1.99

    10 Avesco Group Plc Ordinary 10p                               1.96

    11 Shoe Zone (Holdings) Limited Ordinary 1p                    1.91

    12 Braemar Shipping Services Plc GBp 10                        1.91

    13 Wilmington Plc Ordinary 5p                                  1.90

    14 Tritax Big Box REIT Plc                                     1.88

    15 Personal Group Holdings Plc Ordinary 5p                     1.82

    16 St.Ives Plc Ordinary 10p                                    1.78

    17 Dairy Crest Group Plc Ordinary 25p                          1.77

    18 Photo-Me International Plc Ordinary 0.5p                    1.76

    19 Intermediate Capital Group Plc Ordinary 20p                 1.74

    20 Chesnara Plc Ordinary 5p                                    1.72