Asset Analysis

Fleming Japanese Smaller Cos IT PLC
5 December 2001



ASSET ANALYSIS AS AT 30th November 2001


THE FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                         % funds as at 30/11/01
UK                                                                            0
Japan 1st section                                                            60
Japan 2nd section                                                             3
Japan OTC/regional                                                           23
Japan bonds                                                                   0
Cash and non Japanese fixed interest                                         14
                                                                            100