Holding(s) in Company

JPMorgan Fleming Japanese Smllr Cos
16 August 2004


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC

2)   Name of shareholder having a major interest

CREDIT SUISSE FIRST BOSTON

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

AS ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them

CREDIT SUISSE FIRST BOSTON EQUITIES LIMITED

CREDIT SUISSE FIRST BOSTON (EUROPE) LIMITED



5)   Number of shares/amount of stock acquired

1,200,000


6)   Percentage of issued class

3.04%

7)   Number of shares/amount of stock disposed

N/A


8)   Percentage of issued class

N/A

9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

11TH AUGUST 2004

11)  Date company informed

16TH AUGUST 2004

12)  Total holding following this notification

1,200,000


13)  Total percentage holding of issued class following this notification

3.04%

14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

NICOLA WALTERS    020 7742 3453

16)  Name and signature of authorised company official responsible for
     making this notification


RICHARD LEWIS


Date of notification: 16TH AUUGST 2004



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