Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
16 February 2001



                         STOCK EXCHANGE ANNOUNCEMENT

                    THE FLEMING JAPANESE SMALLER COMPANIES

                             INVESTMENT TRUST PLC

                REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


The Fleming Japanese Smaller Companies Investment Trust plc announces that
today, Friday 16th February 2001 in the market it purchased for cancellation
125,000 ordinary shares at 249p per share representing 0.25% of the ordinary
shares in issue.

The number of shares repurchased to date now totals 7,340,000.

The remaining shares in issue following this announcement are 49,904,423.


16th February 2001


For further information, please contact:

L E Field  (Company Secretary)

Chase Fleming Asset Management (UK) Limited:  020 7742 3426


David McLaughlin

Kleinwort Benson Securities - Stockbrokers to the Company:  020 7475 6672