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 24 October 2014 was 498.65 pence including current period revenue.



The fair value net asset value per Ordinary 10p Share of the Company 
as at 24 October 2014 was 491.34 pence excluding current period revenue.




27 October 2014