Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc

The Company announces:

Total Assets (including unaudited revenue reserves at 28/06/2017) of £54.51m

Net Assets (including unaudited revenue reserves at 28/06/2017) of £54.51m

The Net Asset Value (NAV) at 28/06/2017 was:

Number of shares in issue:

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

98.03p

55,600,002

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

98.25p

Ordinary share price

102.25p

Premium to NAV

4.30

%

*Current period revenue covers the period 09/05/2017 to 28/06/2017