Total Voting Rights

MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

Total Voting Rights
 

In conformity with the provisions of the Financial Services Authority's
Disclosure and Transparency Rules, the Company notifies the market of the
following:

As at 31 December 2008, the issued share capital and voting rights of Montanaro
UK Smaller Companies Investment Trust PLC are as follows:

Class of    Total number of  Number of  Total number  Number of    Total number
share       shares in        voting     of voting     shares held  of shares in
            circulation      rights     rights for    in treasury  issue for   
                             attached   each class of              each class  
                             to each    share in      (carrying no             
                             share      circulation   voting                   
                                                      rights                   
                                                      attached                 
                                                      until                    
                                                      issued)                  
                                                                               
Ordinary    33,475,958       1          33,475,958    0            33,475,958  
10p Shares                                                                     

The above total voting rights figure may be used by shareholders as the
denominator for the calculations by which they will determine whether they are
required to notify their interest in, Montanaro UK Smaller Companies Investment
Trust PLC under the FSA's Disclosure and Transparency Rules.

2 January 2009