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 09           
August 2013 was 537.95 pence including current period revenue.                          
                                                                                        
                                                                                        
The fair value net asset value per Ordinary 10p Share of the Company as at 09           
August 2013 was 533.68 pence excluding current period revenue.                          
                                                                                        
12 August 2013