Aberforth Smaller Companies Trust plc ("ASCOT")The Net Asset Values ("NAVs") per Ordinary Share for the above company as atthe close of business on 21 May 2015 were:-Excluding current year Revenue = 1,295.98pIncluding ALL Revenue = 1,311.56pASCOT has bank debt facilities available to allow gearing of up to 10.0% ofShareholders' Funds. Current gearing is 2.3%. There are currently 95,284,792Ordinary Shares of 1p in issue.Contact - David Holland (Tel: 0131 220 0733)Aberforth Partners LLP, Secretaries - 22 May 2015