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 07 May 2014 was 568.44 pence including current period revenue.

The fair value net asset value per Ordinary 10p Share of the Company
as at 07 May 2014 was 558.89 pence excluding current period revenue.

08 May 2014