Purchase of Own Securities

JPMorgan Fleming Japanese Smllr Cos
01 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 30 September 2002 in the market they purchased for cancellation 150,000
ordinary shares at 150p per share representing 0.35% of the ordinary shares in
issue.

The remaining shares in issue following this repurchase total 43,254,423.

1 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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