Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc

The Company announces:

Total Assets (including unaudited revenue reserves at 09/01/2018) of £52.74m

Net Assets (including unaudited revenue reserves at 09/01/2018) of £52.77m

The Net Asset Value (NAV) at 09/01/2018 was:

Number of shares in issue:

Per Ordinary share (bid price) - including unaudited current period revenue*

94.90p

55,600,002

Per Ordinary share (bid price) - excluding current period revenue*

95.02p

Ordinary share price

97.50p

Premium to NAV

2.73

%

*Current period revenue covers the period 09/05/2017 to 09/01/2018