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
Newton Investment Management Limited

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 a non-beneficial interest of the person
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 Given

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
323,440

8) Percentage of issued class
0.38%

9) Class of security
Ordinary Shares of 1p

10) Date of transaction
Not disclosed

11) Date company informed
23 September 2003

12) Total holding following this notification
9,644,022

13) Total percentage holding of issued class following this notification
11.37%

14) Any additional information
Included in this interest of 9,644,022 Ordinary Shares of 1p (11.37%) is
the
interest of the Newton OEIC Income Fund of 2,259,847 Ordinary Shares of
1p
(2.66%).

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 - 23 September 2003