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 27           
August 2013 was 540.42 pence including current period revenue.                          
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 27           
August 2013 was 535.80 pence excluding current period revenue.                          
                                                                                        
28 August 2013