Asset Analysis

JPMorgan Fleming Japanese Smllr Cos
5 August 2003


                      ASSET ANALYSIS AS AT 31st July 2003

       JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                        % funds as at 31/07/03
UK                                                                           4
Japan 1st section                                                           68
Japan 2nd section                                                            7
Japan OTC/regional                                                          22
Japan bonds                                                                  0
Cash and non Japanese fixed interest
                                                                            -1

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