Asset Analysis as at 31/01/05

JPMorgan Fleming Smaller Cos IT PLC
8 February 2005

ASSET ANALYSIS AS AT 31st January 2005



JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                         % funds as at 31/01/05
UK FTSE 100                                                                0
UK FTSE 250 (excluding IC's)                                              19
FTSE Small Cap (excluding IC's)                                           73
IC income and capital shares                                               0
Other IC's                                                                 0
AIM OFEX                                                                   9
International equities                                                     0
Cash/cash equivalents                                                     -1
                                                                         100





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