Net Asset Value(s)

Montanaro European Smaller C.TstPLC
24 April 2007



Below is shown the unaudited net asset value for the Company as at close of
business on 23/04/07

NAV per share (at bid market values) in £ sterling with prior charges at nominal
value.  Pence per share.


Montanaro European Smaller Companies Trust plc                          459.45

Note: NAV is diluted, where appropriate.



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