Asset Analysis

Fleming Japanese Inv Trust PLC
4 January 2002

ASSET ANALYSIS AS AT 31st December 2001


THE FLEMING JAPANESE INVESTMENT TRUST plc

                                                         % funds as at 31/12/01
UK                                                                            3
Japan 1st section                                                            88
Japan 2nd section                                                             1
Japan OTC/regional                                                            2
Japan bonds                                                                   0
Cash and non Japanese fixed interest                                          6
                                                                            100