Currency Hedge

Fleming Japanese Inv Trust PLC
31 December 2001




                         STOCK EXCHANGE ANNOUNCEMENT


                  THE FLEMING JAPANESE INVESTMENT TRUST PLC



                                CURRENCY HEDGE


The Company announces that the forward hedge for The Fleming Japanese
Investment Trust plc was closed entirely on 28th December 2001 at a
significant profit.


31st December 2001

For and on behalf of

J.P. Morgan Fleming Asset Management (UK) Limited - Secretary




For further information, please contact:

Hilary Lowe (Company Secretary)

J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3274