Net Asset Value(s)

Montanaro European Smaller C.TstPLC
28 September 2007


Date of Announcement: 28/09/2007

Below is shown the unaudited net asset value for the Company as at close of
business on 27/09/2007

NAV per share (at bid market values) in £ sterling. Pence per share.

Montanaro European Smaller Companies Trust plc                        439.24

Note: NAVs are diluted, where appropriate.


                      This information is provided by RNS
            The company news service from the London Stock Exchange END
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