Purchase of Own Securities

Montanaro UK Smlr Cos Inv Tst PLC
19 September 2001


MONTANARO UK SMALLER COMPANIES INVESTMENT TRUST PLC

The Company announces that it has today repurchased in the market 1,125,000
Ordinary shares at a price of 144.5 pence, through Warburg Dillon Read.

The repurchase will reduce the number of shares in issue to 38,976,048.


19.09.01