Annual Report and Accounts

Montanaro European Smaller C.TstPLC
06 June 2007


To:        RNS


Date:      6 June 2007


From:      Montanaro European Smaller Companies Trust plc


Annual Report and Accounts for the year ended 31 March 2007


A copy of the above document has been submitted to the UK Listing Authority and
will shortly be available for inspection at the UKLA's Document Viewing
Facility, which is situated at:


Financial Services Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

All enquiries:


Gordon Hay Smith         F&C Investment Business Limited           020 7628 8000


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