Asset Analysis

JPMorgan Fleming Smaller Cos IT PLC
12 May 2004


                     ASSET ANALYSIS AS AT 30th April 2004

JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                      % funds as at 30/04/04
UK FTSE 100                                                                0
UK FTSE 250 (excluding IC's)                                              22
FTSE Small Cap (excluding IC's)                                           79
IC income and capital shares                                               0
Other IC's                                                                 0
AIM OFEX                                                                   0
International equities                                                     0
Cash/cash equivalents                                                     -1
                                                                         100

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