Directorate Change

JPMorgan Fleming Japanese Smllr Cos
20 June 2003

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC



20th June 2003


Changes to the Board

The Board of JPMorgan Fleming Japanese Smaller Companies Investment Trust plc
announce that Mr Nicholas Sibley will retire as a non-executive Director and
Chairman from the Board with effect from 20th June 2003.  The Board sincerely
thanks Mr Sibley for his valuable contributions during his time on the Board. Mr
Alan Clifton will take over the Chairmanship.


For further information, please contact:




Hilary Lowe, Company Secretary
J.P. Morgan Fleming Asset Management (UK) Ltd - Secretary 020 7742 6000


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