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 18 December 
2014 was 518.66 pence including current period revenue.


The fair value net asset value per Ordinary 10p Share of the Company as at 18 December 
2014 was 510.63 pence excluding current period revenue.


19 December 2014