Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES                                         
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
1. Identity of the issuer or the underlying issuer               Montanaro UK Smaller   
of existing shares to which voting rights are                    Companies Investment   
attached:ii                                                            Trust Plc        
                                                                                        
                                                                                        
                                                                                        
2 Reason for the notification (please tick the appropriate box or boxes):               
                                                                                        
An acquisition or disposal of voting rights                                          Yes
                                                                                        
An acquisition or disposal of qualifying financial instruments which may result         
in the acquisition of shares already issued to which voting rights are attached         
                                                                                        
An acquisition or disposal of instruments with similar economic effect to               
qualifying financial instruments                                                        
                                                                                        
An event changing the breakdown of voting rights                                        
                                                                                        
Other (please specify):                                                                 
                                                                                        
3. Full name of person(s) subject to the                       East Riding of Yorkshire 
notification obligation:iii                                            Council          
                                                                                        
4. Full name of shareholder(s)                                Nortrust Nominees Limited 
 (if different from 3.):iv                                                              
                                                                                        
5. Date of the transaction and date on                                                  
which the threshold is crossed or                                   5 August 2011       
reached: v                                                                              
                                                                                        
6. Date on which issuer notified:                                   8 August 2011       
                                                                                        
7. Threshold(s) that is/are crossed or                                    8%            
reached: vi, vii                                                                        
                                                                                        


 

8. Notified details:                                                                                    
                                                                                                        
A: Voting rights attached to shares viii, ix                                                            
                                                                                                        
Class/type   Situation previous                   Resulting situation after the triggering transaction  
of           to the triggering                                                                          
shares       transaction                                                                                
                                                                                                        
                                                                                                        
if possible  Number                 Number        Number    Number of voting        % of  voting rights 
using        of                     of            of shares rights                  x                   
the ISIN     Shares                 Voting                                                              
CODE                                Rights                                                              
                                                  Direct    Direct xi Indirect xii  Direct  Indirect    
                                                                                                                   
GB0006007560                                                                                            
            2,643,400             2,643,400     2,743,400   2,743,400      N/A       8.19%      N/A     
                                                                                           
                                                                                                        
                                                                                                        
                                                                                                        
B: Qualifying Financial Instruments                                                                     
                                                                                                        
Resulting situation after the triggering transaction                                                    
                                                                                                        
Type of        Expiration            Exercise/               Number of voting             % of voting   
financial      date xiii             Conversion Period xiv   rights that may be           rights        
instrument                                                   acquired if the                            
                                                             instrument is                              
                                                             exercised/ converted.                      
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
C: Financial Instruments with similar economic effect to Qualifying Financial                           
Instruments xv, xvi                                                                                     
                                                                                                        
Resulting situation after the triggering transaction                                                    
                                                                                                        
Type of       Exercise price        Expiration  Exercise/   Number of voting rights    % of voting      
financial                           date xvii   Conversion  instrument refers to       rights xix, xx   
instrument                                      period                                                  
                                                xviii                                                   
                                                                                                        
                                                                                       Nominal Delta      
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
                                                                                                        
Total (A+B+C)                                                                                           
                                                                                                        
Number of voting rights                                   Percentage of voting rights                   
                                                                                                        
2,743,400                                                 8.19%                                         
                                                                                                        


 

9. Chain of controlled undertakings through which the voting rights and/or the          
financial instruments are effectively held, if applicable: xxi                          
                                                                                        
N/A                                                                                     
                                                                                        
                                                                                        
                                                                                        
                                                                                        
                                                                                        
Proxy Voting:                                                                           
                                                                                        
10. Name of the proxy holder:                                                           
                                                                                        
11. Number of voting rights proxy holder will cease                                     
to hold:                                                                                
                                                                                        
12. Date on which proxy holder will cease to hold                                       
voting rights:                                                                          
                                                                                        
                                                                                        
                                                                                        
                                                                                        
13. Additional information:           Calculation based on 33.48 million shares in issue
                                                                                        
14. Contact name:                                      Barbara Osborne                  
                                                                                        
15. Contact telephone number:                            01482 394148