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 13 November 
2014 was 507.63 pence including current period revenue.


The fair value net asset value per Ordinary 10p Share of the Company as at 13 November 
2014 was 500.25 pence excluding current period revenue.


14 November 2014