Net Asset Value(s)

Montanaro European Smaller C.TstPLC
10 April 2008


Date of Announcement: 10/04/2008



Below is shown the unaudited net asset value for the Company as at close of
business on 09/04/2008

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





Montanaro European Smaller Companies Trust plc                405.65





Note: NAVs are diluted, where appropriate.




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