Net Asset Value(s)

Montanaro European Smaller C.TstPLC
22 February 2008


Date:     22/02/2008


Below is shown the unaudited net asset value for the Company as at close of
business on 21/02/2008 

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



Montanaro European Smaller Companies Trust plc                 378.36




Note: NAVs are diluted, where appropriate.


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