Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
31 August 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 on
Thursday 31stAugust 2001 in the market it purchased for cancellation 130,000
ordinary shares at 206p per share representing 0.26% of the ordinary shares in
issue.


The number of shares repurchased to date now totals 8,270,000.


The remaining shares in issue following this announcement are 48,974,423.


31st August 2001



For further information, please contact:



Hilary Lowe

For and on behalf of

J.P. Morgan Fleming Asset Management (UK) Limited

020 7742 3274



Alan Brierley

Dresdner Kleinwort Wasserstein Securities Limited- Stockbrokers to the Company

020 7475 6672