Aberforth Smaller Companies Trust plc (the "Company")

    Refinancing of the Debt Facility

    The Board of Aberforth Smaller Companies Trust plc announces that the Company
    has renewed the existing unsecured £125 million Revolving Debt Facility with
    The Royal Bank of Scotland plc for a further three years. The facility bears
    interest at 0.80 per cent over LIBOR and is due to expire on 15 June 2020.

    For further information contact: David Holland, Aberforth Partners LLP,

    Telephone: 0131 220 0733

    Aberforth Partners LLP, Secretaries - 16 May 2017

    Legal Entity Identifier ("LEI"):  213800GZ9WC73A92Q326

    END