Scottish Widows Investment Partnership Limited announces the following unaudited Net Asset Values of Smaller
Companies Value Trust plc
    These figures include all income:
                    2 January 2009                    
                                                      
 Package Unit       114.66             pence per share
                                                      
 Capital Shares     53.10              pence per share
                                                      
 Income Shares      61.56              pence per share
    These figures exclude all income:
                    2 January 2009                    
                                                      
 Package Unit       111.72             pence per share
                                                      
 Capital Shares     53.10              pence per share
                                                      
 Income Shares      58.62              pence per share
    
    


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