Holding(s) in Company

    SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company
Aberforth Smaller Companies Trust plc

2) Name of shareholder having a major interest
Merseyside Pension Fund

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is
a holding of that person's spouse or children under the age of 18
Notification is in respect of holding of the shareholder named in 2
above.

4) Name of the registered holder(s) and, if more than one holder, the
 number of shares held by each of them
Not disclosed

5) Number of shares/amount of stock acquired
N/A

6) Percentage of issued class
N/A

7) Number of shares/amount of stock disposed
300,000

8) Percentage of issued class
0.35%

9) Class of security
Ordinary Shares of 1p

10) Date of transaction
17 July 2003

11) Date company informed
17 July 2003

12) Total holding following this notification
2,350,000

13) Total percentage holding of issued class following this notification
2.77%

14) Any additional information
N/A

15) Name of contact and telephone number for queries
David Holland - 0131 220 0733

16) Name and signature of authorised company official responsible for
making this notification
David Holland, For Aberforth Partners, Secretaries.

Date of notification
17 July 2003