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 24           
June 2013 was 491.41 pence including current period revenue.                            
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 24           
June 2013 was 481.61 pence excluding current period revenue.                            
                                                                                        
25 June 2013