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 09          
June 2015 was 606.58 pence including current period revenue.                           
                                                                                       
The fair value net asset value per Ordinary 10p Share of the Company as at 09          
June 2015 was 593.66 pence excluding current period revenue.                           
                                                                                       
                                                                                       
                                                                                       
10 June 2015