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 21 March 2014 was 
589.21 pence including current period revenue.                          
                                                                        
                                                                        
The fair value net asset value per Ordinary 10p 
Share of the Company as at 21 March 2014 was 
581.50 pence excluding current period revenue.                          
                                                                        
24 March 2014