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 
03 March 2015 was 565.23 pence including current period revenue.                                                                                                                                                                                                                                          
The fair value net asset value per Ordinary 10p Share of the Company as at 
03 March 2015 was 556.81 pence excluding current period revenue.                                                                                                                                                             
                                                                                
04 March 2015