AGM Results

Montanaro UK Smlr Cos Inv Tst PLC
17 July 2000


MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

Following this morning's Annual General Meeting, the Company is pleased to
announce that all resolutions were passed by shareholders.

As a result, Mr Antony Scott Hardy has been appointed to the Board with effect
from today. Mr Hardy's other directorships are as follows:

Director, Perpetual Income And Growth Investment Trust Plc.

Director and Chairman, Wimbledon And District YMCA.

As notified to shareholders in the Annual report, Sir Geoffrey Littler has
today retired from the Board, and Mr Iain Cater has today resigned from the
Board.

Shareholders also voted to approve an authority for the Company to repurchase
up to 6,000,000 ordinary 10p shares.