Purchase of Own Securities

JPMorgan Fleming Japanese Smllr Cos
10 October 2002

                          STOCK EXCHANGE ANNOUNCEMENT

        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Japanese Smaller Companies Investment Trust plc announces that
on 9 October 2002 in the market they purchased for 75,000 ordinary shares at
138p per share representing 0.17% of the ordinary shares in issue.

The remaining shares in issue following this repurchase total 43,179,423.



10 October 2002

For further information, please contact:

Hilary Lowe  (Company Secretary)
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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