Net Asset Value(s)

Montanaro European Smaller C.TstPLC
18 February 2008


Below is shown the unaudited net asset value for the Company as at close of
business on 15/02/2008

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






Montanaro European Smaller Companies Trust plc                        368.42




Note: NAVs are diluted, where appropriate.



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