Annual Information Update

Annual Information Update

In accordance with Prospectus Rule 5.2 the Company reports upon information
that it has published or made available to the public over the 12 month period
ended 31/03/06.

In accordance with PR 5.2.7 some of the information included in the list may be
out of date.

Company Announcements

The Company has made the following announcements through PR Newswire, its
appointed RIS in the UK.

Date                 Heading                       
                                                   
Mon 27 Feb, 2006     Director Declaration          
                                                   
Thus 2 Feb, 2006     Holding(s) in Company         
                                                   
Tue 31 Jan, 2006     Director Declaration          
                                                   
Mon 23 Jan, 2006     Holding(s) in Company         
                                                   
Wed 4 Jan, 2006      Portfolio Update              
                                                   
Wed 28 Dec, 2005     Holding(s) in Company         
                                                   
Fri 16 Dec, 2005     Holding(s) in Company         
                                                   
Wed 14 Dec, 2005     Holding(s) in Company         
                                                   
Mon 28 Nov, 2005     Interim Results               
                                                   
Mon 10 Oct, 2005     Holding(s) in Company         
                                                   
Tue 4 Oct, 2005      Portfolio Update              
                                                   
Wed 28 Sep, 2005     Holding(s) in Company         
                                                   
Wed 14 Sep, 2005     Holding(s) in Company         
                                                   
Fri 15 Jul, 2005     AGM Statement                 
                                                   
Mon 4 Jul, 2005      Portfolio Update              
                                                   
Tue 21 Jun, 2005     Holding(s) in Own Shares      
                                                   
Tue 14 Jun, 2005     Transaction in Own Shares     
                                                   
Mon 13 Jun, 2005     Transaction in Own Shares     
                                                   
Thu 2 Jun, 2005      Holding(s) in Company         
                                                   
                     Final Results                 
                                                   
Fri 27 May, 2005     Transaction in Own Shares     
                                                   
Mon 16 May, 2005     Transaction in Own Shares     
                                                   
Mon 4 Apr, 2005      Portfolio Update              

Net asset values, announced weekly and at the month end are not included in the
above list.

Filing at Companies House

During the period the following documents were filed at Companies House:

Date            Document number             Description                       
                                                                              
27/01/06        Form 363s                   Annual Return                     
                                                                              
18/10/05                                    Annual Accounts                   
                                                                              
14/09/05        169A(2)                     Cancellation of Shares from       
                                            Treasury                          
                                                                              
11/08/05                                    Special Business Passed at Annual 
                                            General Meeting                   
                                                                              
08/06/05        169A(2)                     Sale of Shares from Treasury      
                                                                              
31/05/05        169A(2)                     Sale of Shares from Treasury      
                                                                              
26/04/05        169A(2)                     Sale of Shares from Treasury      

Inspection of Documents

The Company does not have its own website.

The Investment Manager has its own website at www.montanaro.co.uk which
contains the following documents:

Annual Report

Interim Report

NAV

Monthly Factsheet

The Company publishes the following documents on the website of its Company
Secretary at www.sinclairhenderson.co.uk:

Annual Report

Interim Report

Copies of certain documents that are required to be lodged at the FSA in
accordance with the Listing Rules, Prospectus Rules and Disclosure Rules are
available for inspection at the following address:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Tel [phone]

Copies of announcements other than NAV announcements may be viewed at the
following link http://moneyworld.uk-wire.com/cgi-bin/index?company=MTU. Please
note that this site is not the responsibility of the Company.

Copies of documents filed at Companies House are available at Registrar of
Companies, Companies House, Crown Way, CARDIFF, CF14 3UZ tel [phone].
They may also be downloaded from its website at 
www.direct.companieshouse.gov.uk.

Copies of any of the above items may be obtained free of charge from the office
of the Company Secretary at the registered office address:

Sinclair Henderson Limited

23 Cathedral Yard

Exeter

EX1 1HB