Transaction in Own Shares

JPMorgan Smaller Cos IT PLC
30 November 2007



                          STOCK EXCHANGE ANNOUNCEMENT



                JPMORGAN SMALLER COMPANIES INVESTMENT TRUST PLC



                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Smaller Companies Investment Trust plc has today purchased 35,000
ordinary shares for cancellation at 472.0 pence per share.


Following the transaction the remaining shares in issue total 20,770,983.




30th November 2007




For further information, please contact:



Lucy Dina

JPMorgan Asset Management (UK) Limited - Secretary

020 7742 6000





Gavin Tooke

Dresdner Kleinwort - Stockbrokers to the Company

020 7623 8000








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