AGM Statement

JPMorgan Fleming Japanese Smllr Cos
15 July 2004


                       STOCK EXCHANGE ANNOUNCEMENT

        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC


Following the Annual General Meeting of the Company, which was held today, the
Board is pleased to announce that all of the resolutions put to shareholders
were passed, including three Special Resolutions which:
          
i)   will allow the Company to allot relevant securities up to an aggregate 
     nominal amount of £197,047;

ii)  will allow the Company to make market purchases of up to 5,907,472 ordinary 
     shares, representing 14.99% of the Company's issued share capital; and

iii) amend Articles 92 and 93 of the Company's Articles of Association regarding 
     Directors' retirement by rotation.

15th July 2004


For further information, please contact:

Jonathan Latter
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
020 7742 6000


                      This information is provided by RNS
            The company news service from the London Stock Exchange