Asset Analysis

Fleming Japanese Smaller Cos IT PLC
29 June 2001


ASSET ANALYSIS AS AT 28th JUNE 2001

THE FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                      % funds as at 28/6/01
UK                                                                            0
Japan 1st section                                                            55
Japan 2nd section                                                             2
Japan OTC/regional                                                           20
Japan bonds                                                                   0
Cash and non Japanese fixed interest                                         23
                                                                            100