Holding(s) in Company

JPMorgan Fleming Smaller Cos IT PLC
02 January 2004


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

2)   Name of shareholder having a major interest

ALLIANZ AG  AND SUBSIDIARIES

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

IN RESPECT OF SHAREHOLDER IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them


NOT STATED


5)   Number of shares/amount of stock acquired

NOT STATED

6)   Percentage of issued class

NOT STATED

7)   Number of shares/amount of stock disposed

NOT STATED

8)   Percentage of issued class

NOT STATED

9)   Class of security

ORDINARY 25p SHARES


10)  Date of transaction

23rd December 2003

11)  Date company informed

31st DECEMBER 2003


12)  Total holding following this notification

NOT STATED

13)  Total percentage holding of issued class following this notification

NOT STATED



14)  Any additional information

FOLLOWING THIS DISCLOSURE THE AFOREMENTIONED COMPANY
NO LONGER HAS A NOTIFIABLE INTEREST IN THIS TRUST.

15)  Name of contact and telephone number for queries

LUCY SULLIVAN, 020 7742 3451


16)  Name of authorised company official responsible for making this
notification

FRASER EASTON 020 7742 3425



17)  Date of notification



2nd JANUARY 2004





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