Net Asset Value(s)

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC ('the Company')                     
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 08           
February 2013 was 500.12 pence including current period revenue.                        
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 08           
February 2013 was 494.39 pence excluding current period revenue.                        
                                                                                        
11 February 2013