Correction : Net Asset Value(s)

The Company announces that the Net Asset Value figures issued under reference
PRNUK-0704081728-1B05 at 17:23 on 7 April 2008 were incorrect due to an
administrative error.

A full copy of the corrected announcement appears below.



                        MONTANARO UK SMALLER COMPANIES                         

                     INVESTMENT TRUST PLC ("the Company")                      

The fair value net asset value per Ordinary 10p Share of the Company as at 4
April 2008, with debt at par, was 301.37 pence.

The fair value net asset value per Ordinary 10p Share of the Company as at 4
April 2008, with debt at fair value, was 301.37 pence.

7 April 2008