Directorate Change

MONANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC               

The Company is pleased to announce that David Gamble has accepted an invitation
to join the Board as a non-executive Director with effect from 19 November
2004.

Mr Gamble has an interest in 10,000 shares of the Company, representing 0.03%
of the issued voting shares.

There are no details required to be disclosed pursuant to paragraph 6.F.2(b) to
(g) of the UKLA Listing Rules.

19.11.04