Transaction in Own Shares

JPMorgan Fleming Japanese Smllr Cos
27 June 2007





                        LONDON 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 has today
purchased 50,000 ordinary shares for cancellation at 224.0 pence per share.


Following the transaction the remaining shares in issue total 39,359,423.



27th June 2007



For further information, please contact:

Hilary Lowe
JPMorgan Asset Management (UK) Limited, 020 7742 6000


Tom Harris
Dresdner Kleinwort, 020 7475 6685






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