Holding in Company

Montanaro UK Smlr Cos Inv Tst PLC
9 May 2001


MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

The Company has today been informed that following the disposal of 1,350,000
ordinary 10p shares in the Company, representing 3.37% of the issued class of
capital, Liverpool Victoria Friendly Society Limited no longer have an
interest in the Company.


9 May 2001