Net Asset Value(s)

Montanaro European Smaller C.TstPLC
12 December 2007


Date of Announcement: 12/12/2007

Below is shown the unaudited net asset value for the Company as at close of
business on 11/12/2007

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



Montanaro European Smaller Companies Trust plc                          422.7





Note: NAVs are diluted, where appropriate.

                      This information is provided by RNS
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