An excellent result in this market." Year ends with NTA steady...

An excellent result in this market.

" Year ends with NTA steady despite market falling during December

The pre-tax NTA for Contango MicroCap Limited as at 31 December 2007 was $2.066.

After adjusting for the effect of the recent 1:3 rights issue and declaration of 5 cent per share special dividend this represents a decrease of 0.2%

The ASX All Ordinaries Accumulation Index and the ASX Small Ordinaries Index both decreased by 2.4% over the
month.

The NTA after providing for tax on unrealised gains was $1.902 - the Company is a medium to long-term investor and
does not intend disposing of its total portfolio of investments.

Contango MicroCap Limited was first listed on ASX on 25 March 2004 and remains one of the best performing LICs in
the Australian marketplace."