Directorate Change

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

The Company announces that, following nine years of service, Mr Antony Hardy
will not be seeking re-election at the Company's 2009 AGM. The Board wishes to
extend its thanks to Mr Hardy for his excellent contribution to the Company.

It is the Board's intention to appoint Mr Roger Cuming as a Director of the
Company at the Board meeting to be held on 5 June 2009. Full details in respect
of the appointment will be announced in the next 5 days in compliance with the
requirements of LR 9.6.13.

26.03.09