Appointment of Financial Adviser

Montanaro UK Smaller Companies Investment Trust PLC              

                                 18 March 2013                                 

                       Appointment of Financial Adviser                        

The Board of Montanaro UK Smaller Companies Investment Trust PLC (the
"Company") is pleased to announce the appointment of Cantor Fitzgerald Europe
as the Company's Financial Adviser with immediate effect.

Enquiries:

Charles Montanaro        Montanaro Asset Management Ltd    020 7448 8600    

Gordon Neilly/           Cantor Fitzgerald Europe          020 7894 8096
Sue Inglis                                                 020 7894 8016