Final Results

Fleming Japanese Inv Trust PLC
5 November 2001





                  THE FLEMING JAPANESE INVESTMENT TRUST PLC


                         STOCK EXCHANGE ANNOUNCEMENT


           Preliminary results for the year to 30th September 2001


5th November 2001



The Fleming Japanese Investment Trust plc today announced its preliminary
results for the year ended 30th September 2001.



Over the period the net asset value per share decreased by 42.7% compared with
a 36.5% decrease in the Tokyo Stock Exchange 1st Section Index, expressed in
Sterling terms, which is the Company's benchmark index.  As at 30th September
2001, the price of the shares was 174.5p (2000 : 330.5p) with the discount at
which the Company's shares trade relative to the net asset value being 17.3%
(2000 : 10.2%)







FW Easton

For and on behalf of

JPMorgan Fleming Asset Management (UK) Limited - Secretary ....... 020 7742 6000




                   THE FLEMING JAPANESE INVESTMENT TRUST PLC

           UNAUDITED FIGURES FOR THE YEAR ENDED 30TH SEPTEMBER 2001




                                                                 2001      2000
                                                                £'000     £'000

Revenue


  Income


                       Franked dividends                            -        68
                       Overseas dividends                       4,546     4,426
                       Deposit interest                            42        29
                       Stock lending                               44       338

   Gross Revenue                                                4,632     4,861


   Less                Management fee                           3,941     4,804
                       Other administrative expenses              436       455
                       Interest payable                         3,394     3,303

                       Return before Taxation                  (3,139)   (3,701)


   Less                Taxation                                   681       664

   Transfer to reserves                                       (3,820)   (4,365)

                                                                =====     =====




                                                                 2001      2000
                                                                £'000     £'000
CAPITAL


Return attributable to ordinary shareholders                (303,760)    88,862
                                                               ======    ======






Revenue return per ordinary share                            (1.95) p  (2.23) p
Capital return per ordinary share                          (155.10) p   45.37 p
Total return per ordinary share                            (157.05) p   43.14 p








                   THE FLEMING JAPANESE INVESTMENT TRUST PLC

           UNAUDITED FIGURES FOR THE YEAR ENDED 30TH SEPTEMBER 2001




BALANCE SHEET


                                                                 2001      2000
                                                                £'000     £'000


Investment at valuation                                       494,828   872,389

Debtors                                                        33,561    24,726

Cash and short term deposits                                    8,563     1,378

Creditors: amounts falling due within one year               (36,112)  (29,465)

Creditors: amounts falling due after more than one year      (87,357) (147,965)

Total net assets                                              413,483   721,063

                                                                =====     =====


Net asset value per ordinary share                            211.1 p   368.2 p




CASH FLOW STATEMENT


                                                                 2001      2000
                                                                £'000     £'000


Net cash outflow from operating activities                      (444)   (1,649)

Net cash outflow from servicing of finance                    (3,803)   (3,343)

Total tax recovered                                                 -        49

Net cash inflow/(outflow) from capital                         59,435   (9,432)
expenditure and financial investment

Net cash (outflow)/inflow from financing                     (40,449)    26,819

Increase in cash for the year                                  14,739    12,444

                                                                =====     =====







The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985



JPMORGAN FLEMING  ASSET MANAGEMENT (UK) LIMITED



5 November 2001