Net Asset Value(s)

Montanaro European Smaller C.TstPLC
03 December 2007



From: Michael Campbell- F&C Asset Management plc

To:   RNS


Date of Announcement: 03/12/2007


Below is shown the unaudited net asset value for the Company as at close of
business on 30/11/2007

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


Montanaro European Smaller Companies Trust plc                            415.59

Note: NAVs are diluted, where appropriate.

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