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
     Legal & General 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 the 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
HSBC Global Custody Nominee (UK) Ltd a/c 914945-    39,289 shares
HSBC Global Custody Nominee (UK) Ltd a/c 775245-   350,000 shares
HSBC Global Custody Nominee (UK) Ltd a/c 357206- 2,309,388 shares
HSBC Global Custody Nominee (UK) Ltd a/c 866203-   139,000 shares
HSBC Global Custody Nominee (UK) Ltd a/c 360509-   122,000 shares

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
12,000

8)   Percentage of issued class
0.01%

9)   Class of security
Ordinary Shares of 1p

10)  Date of transaction
26 January 2004

11)  Date company informed
27 January 2004

12)  Total holding following this notification
2,959,677

13)  Total percentage holding of issued class following this
notification
2.99%

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 - 27 January 2004