SDV SAAB AB

    Small Companies Dividend Trust PLC

The Company announces that the Net Asset Values at 13 November 2003 were:

per Ordinary share                       144.97p
                                                
per Preference share                     141.45p
                                                
per Zero Dividend Preference share       141.45p

As at 13 November 2003 gross assets less current liabilities (before deducting
for the term loan facility of �5.00m of a �3.58m bank overdraft facility) were
�40.30m.



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