Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc

The Company announces:

Total Assets (including unaudited revenue reserves at 27/09/2017) of £53.41m

Net Assets (including unaudited revenue reserves at 27/09/2017) of £53.49m

The Net Asset Value (NAV) at 27/09/2017 was:

Number of shares in issue:

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

96.20p

55,600,002

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

96.60p

Ordinary share price

99.00p

Premium to NAV

2.91

%

*Current period revenue covers the period 09/05/2017 to 27/09/2017