Let X = G/Γ, where G is a Lie group and Γ is a lattice in G, let U be an open subset of X, and let {gt} be a one-parameter subgroup of G. Consider the set of points in X whose gt-orbit misses U ; it has measure zero if the flow is ergodic. It has been conjectured that this set has Hausdorff dimension strictly smaller than the dimension of X. This conjecture has been proved when X is compact or when G is a simple Lie group of real rank 1. In this paper we prove this conjecture for the case G = SLm+n(R), Γ = SLm+n(Z) and gt = diag(e nt , . . . , e nt , e −mt , . . . , e −mt ), in fact providing an effective estimate for the codimension. The proof uses exponential mixing of the flow together with the method of integral inequalities for height functions on SLm+n(R)/ SLm+n(Z). We also discuss an application to the problem of improving Dirichlet's theorem in simultaneous Diophantine approximation.