Net Asset Value(s)

MONTANARO UK SMALLER COMPANIES                         

                     INVESTMENT TRUST PLC ("the Company")                      

The Net Asset Value per Ordinary 10p Share of the Company, including current
period revenue, as at 1 June 2008 was 316.82 pence.

The Net Asset Value per Ordinary 10p Share of the Company, excluding current
period revenue, as at 1 June 2008, was 315.83 pence.

3 June 2008