Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc

The Company announces:

Total Assets (including unaudited revenue reserves at 23/10/2017) of £52.31m

Net Assets (including unaudited revenue reserves at 23/10/2017) of £52.34m

The Net Asset Value (NAV) at 23/10/2017 was:

Number of shares in issue:

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

94.13p

55,600,002

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

94.60p

Ordinary share price

98.50p

Premium to NAV

4.64

%

*Current period revenue covers the period 09/05/2017 to 23/10/2017