Holding(s) in Company

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

The Company has today been informed that following the sale of 200,000 Ordinary
shares on 29 August 2002 by Exeter Smaller Companies Income Fund, Exeter Asset
Management Limited no longer has a notifiable interest in the shares of
Montanaro UK Smaller Companies Investment Trust Plc.

30.08.02