Appointment of Financial Advisor and Corporate ...

Montanaro UK Smaller Companies Investment Trust PLC              

                                31 October 2011                                

             Appointment of Financial Adviser and Corporate Broker           

The Board of Montanaro UK Smaller Companies Investment Trust PLC (the "Company")
is pleased to announce the appointment of Canaccord Genuity Limited as the
Company's financial adviser and corporate broker with immediate effect.

Enquiries

Charles Montanaro        Montanaro Asset Management Ltd    020 7448 8600     
                                                                             
Gordon Neilly/           Canaccord Genuity Limited         020 7050 6778/    
Chris Whittingslow                                         020 7050 6528