Directorate Change

Montanaro UK Smaller Companies Investment Trust PLC ("the Company")

On 26 July 2013, the Board announced its intention to appoint a further
director to the Board and now confirms that Mr James Robinson will be appointed
to the Board with effect from 30 September 2013.

James was chief investment officer, investment trusts and director of hedge
funds at Henderson Global Investors prior to his retirement in 2005. A
chartered accountant, he has 33 years investment experience and is a director
of Aberdeen New Thai Investment Trust plc, Invesco Asia Trust plc, Fidelity
European Values PLC and JPMorgan Elect plc. He is also chairman of Polar
Capital Global Healthcare Growth and Income Trust plc and a council member and
chairman of the Investment Committee of the British Heart Foundation.

There are no other details required to be disclosed pursuant to LR 9.6.13 of
the UKLA Listing Rules.

1 August 2013