Net Asset Value(s)

Downing Strategic Micro-Cap Investment Trust Plc

The Company announces:

Total Assets (including unaudited revenue reserves at 01/03/2018) of £51.96m

Net Assets (including unaudited revenue reserves at 01/03/2018) of £52.05m

The Net Asset Value (NAV) at 01/03/2018 was:

Number of shares in issue:

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

93.61p

55,600,002

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

93.63p

Ordinary share price

93.60p

Premium to NAV

(0.01)

%

*Current period revenue covers the period 09/05/2017 to 01/03/2018