Directorate Change

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

CHANGES TO BOARD OF DIRECTORS

The Company announces that, following many years of service, Mr Christopher
Jones will not be seeking re-election at the Company's 2010 AGM. The Board
wishes to extend its thanks to Mr Jones for his excellent contribution to the
Company. The Board further announces its intention to make Mr Laurence Petar
the Senior Independent Director when Mr Jones retires from the Board.

It is the Board's intention to appoint Miss Kathryn Matthews as a Director of
the Company with effect from 1 April 2010.

Miss Matthews is currently a Director of:

Fidelity Asian Values Plc

Hermes Fund Managers Ltd

Rathbone Brothers Plc.

There are no other details required to be disclosed pursuant of LR9.6.13 of the
UKLA Listing Rules.

18 February 2010