Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
5 September 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
Wednesday 5th September 2001 in the market it purchased for cancellation
200,000 ordinary shares at 199p per share representing 0.41% of the ordinary
shares in issue.

The number of shares repurchased to date now totals 8,470,000.

The remaining shares in issue following this announcement are 48,774,423.



5th September 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