Asset Analysis

JPMorgan Fleming Japanese Smllr Cos
10 March 2003


ASSET ANALYSIS AS AT 28th February 2003



JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                             % funds as at 28/02/03

UK                                                                                      0
Japan 1st section                                                                      54
Japan 2nd section                                                                      11
Japan OTC/regional                                                                     24
Japan bonds                                                                             1
Cash and non Japanese fixed interest                                                   10

                                                                                      100


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