Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
20 February 2002



                          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
yesterday in the market it purchased for cancellation 65,000 ordinary shares at
163p per share representing 0.14% of the ordinary shares in issue.

The remaining shares in issue following this announcement are 45,939,423.



20th February 2002



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





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