Asset Analysis

JPMorgan Fleming Smaller Cos IT PLC
5 August 2003


                      ASSET ANALYSIS AS AT 31st July 2003

           JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                        % funds as at 31/07/03
UK FTSE 100                                                                  0
UK FTSE 250 (excluding IC's)                                                29
FTSE Small Cap (excluding IC's)                                             75
IC income and capital shares                                                 0
Other IC's                                                                   0
AIM OFEX                                                                     1
International equities                                                       0
Cash/cash equivalents                                                       -5
                                                                           100

                      This information is provided by RNS
            The company news service from the London Stock Exchange