Smaller Companies Value Trust PLC



                        SMALLER COMPANIES VALUE TRUST plc

Please note the net asset values of 56.75p (for the income share) and 197.13p
(for the capital share) on an articles basis announced in the preliminary
statement of results (for the period ended 31 October 2007) on 7 December 2007
at 16.51hrs for Smaller Companies Value Trust were incorrect. Please see below
the correct announcement.

Smaller Companies Value Trust PLC announces the revised results for the
half-year ended 31 October 2007.

Net asset value per income share (Articles basis)        58.85p
Net asset value per capital share (Articles basis)       195.03p

                 Smaller Companies Value Trust plc is registered
           in England No. 4388908 and is an Investment Company within
               the meaning of Part VIII of the Companies Act 1985
               Registered Office: 10 Fleet Place, London EC4M 7RH
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