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 01 September 2015 was 588.70 pence including current period revenue. The fair value net asset value per Ordinary 10p Share of the Company as at 01 September 2015 was 583.61 pence excluding current period revenue. 02 September 2015