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 05           
July 2013 was 511.73 pence including current period revenue.                            
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 05           
July 2013 was 508.48 pence excluding current period revenue.                            
                                                                                        
08 July 2013