Asset Analysis

JPMorgan Fleming Japanese Smllr Cos
8 May 2003



ASSET ANALYSIS AS AT 30th April 2003


JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                                   % funds as at 30/04/03
UK                                                                                      0
Japan 1st section                                                                      60
Japan 2nd section                                                                       9
Japan OTC/regional                                                                     31
Japan bonds                                                                             0
Cash and non Japanese fixed interest                                                    6
                                                                                      100


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