Asset Analysis as at 31 July

JPMorgan Fleming Japanese Smllr Cos
10 August 2005



ASSET ANALYSIS AS AT 31st July 2005


JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                          % funds as at 31/07/05
UK                                                                             0
Japan 1st section                                                             55
Japan 2nd section                                                             13
Japan OTC/regional                                                            30
Japan bonds                                                                    0
Cash and non Japanese fixed interest                                           2
                                                                             100



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