AGM Statement

Fleming Japanese Smaller Cos IT PLC
11 July 2001



                            STOCK EXCHANGE ANNOUNCEMENT



           THE FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC


Following the Annual General Meeting of the Company held on 10th July 2001,
the Board is pleased to announce that all the resolutions put to shareholders
were passed, including one Special Resolution which is summarised as follows:-

1.     To allow the Company to make market purchases of and to cancel up to
7,428,208 ordinary shares;

Full details of all Resolutions are contained within the Company's Annual
Report and Accounts for the year ended 31st March 2001.

The Board is also pleased to announce that Mr Nicholas Sibley has been
appointed the new Chairman of the Company, to replace Mr Patrick Gifford, who
will remain on the Board as a Director.


11th July 2001


For further information, please contact:


Hilary Lowe

For and on behalf of

J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3274