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 20           
June 2013 was 502.88 pence including current period revenue.                            
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 20           
June 2013 was 493.03 pence excluding current period revenue.                            
                                                                                        
21 June 2013