Smaller Companies Value Trust PLC



In accordance with Listing Rule 21.20 (1) (ii), Smaller Companies Value Trust
announces that at 30 September 2007 the ten largest investments, and where appropriate
any investment with a value greater than 5% of the Company's gross assets, are as follows:-

SMALLER COMPANIES VALUE TRUST

                        30-Sep-07

TOP TEN HOLDINGS


STOCK NAME                               MARKET VALUE                                      % OF GROSS ASSET VALUE*
INTERSERVE PLC                           1,958,684.35                                                         3.50
AXON GROUP                               1,768,000.00                                                         3.16
DIGNITY                                  1,709,565.00                                                         3.05
BABCOCK INTL GROUP                       1,581,000.00                                                         2.82
HYDER CONSULTING                         1,576,691.35                                                         2.81
FENNER                                   1,562,406.87                                                         2.79
MORGAN CRUCIBLE CO                       1,482,500.00                                                         2.65
ROK                                      1,389,928.12                                                         2.48
VT GROUP PLC                             1,377,600.00                                                         2.46
BEAZLEY GROUP                            1,290,150.00                                                         2.30



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