Correction : Net Asset Value(s)

The previous announcement ref: PRNUK-0709091554-6611 was incorrect as it
included the NAV as at 3 September 2009. The correct NAV as at 4 September 2009
is as stated 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
September 2009 was 255.97 pence including current period revenue.

The fair value net asset value per Ordinary 10p Share of the Company as at 4
September 2009 was 252.92 pence excluding current period revenue.

7 September 2009