STANDARD LIFE UK SMALLER COMPANIES TRUST PLC

Standard Life UK Smaller Companies Trust plc announces the following unaudited net asset values (NAVs) as at close of business on 31 October 2015. Unless otherwise disclosed, the NAVs have been calculated in accordance with the recommendations of the Association of Investment Companies. In particular: (1) financial assets have been valued on a fair value basis using bid prices, or, if more appropriate, a last trade basis; (2) debt is valued at par (net of issue costs) and, where applicable, debt is also separately valued at market value; and (3) diluted NAVs are disclosed where applicable (for this purpose, any treasury shares are excluded for the purposes of calculation).

Ordinary Shares (debt at fair value)

Excluding Income

378.72p

Ordinary Shares (diluted)

Excluding Income

363.46p

Ordinary Shares (debt at fair value)

Including Income

380.69p

Ordinary Shares (diluted)

Including Income

365.23p

distributed by