Asset Analysis

JPMorgan Fleming Japanese Smllr Cos
12 May 2004


                     ASSET ANALYSIS AS AT 30th April 2004

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                      % funds as at 30/04/04
UK                                                                         0
Japan 1st section                                                         60
Japan 2nd section                                                          8
Japan OTC/regional                                                        32
Japan bonds                                                                0
Cash and non Japanese fixed interest                                       0
                                                                         100

                      This information is provided by RNS
            The company news service from the London Stock Exchange