AGM Statement

Fleming Smaller Co's Inv. Trust PLC
28 November 2002



                         STOCK EXCHANGE ANNOUNCEMENT

             THE FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC



Following the Annual General Meeting of the Company which was held today, the
Board are pleased to announce that all the resolutions put to shareholders were
passed, including two special resolutions which:



a)                  will allow the Company to make market purchases of ordinary
shares up to a maximum number of 3,989,766 representing 14.99% of the Company's
issued ordinary share capital; and



b)                 change the Company's name to 'JPMorgan Fleming Smaller
Companies Investment Trust plc'.



In addition, an ordinary resolution was passed to the effect that the Company
continue in existence as an investment trust for a further three year period.



The change of the Company name will become effective on the issue of the
certificate of incorporation on change of name by the Registrar of Companies and
a further announcement will follow in this respect.









28th November 2002

For further information, please contact:

Fraser Easton (Company Secretary)

J.P. Morgan Fleming Asset Management (UK) Ltd .............020 7742 6000






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