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 08 October 2014 was 501.16 pence
including current period revenue.                                                                               
                                                                                
                                                                                
                                                                                
The fair value net asset value per Ordinary 10p Share
of the Company as at 08 October 2014 was 494.40 pence
excluding current period revenue.                                                                               
                                                                                
                                                                                
09 October 2014