Asset Analysis as at 28/2/01

Fleming Japanese Smaller Cos IT PLC
15 March 2001



ASSET ANALYSIS AS AT 28TH FEBRUARY 2001

The Fleming Japanese Smaller Co Investment Trust plc

                                         % of Funds as at 28/02/01

UK                                                               0
Japan 1st Section                                               53
Japan 2nd Section                                                2
Japan OTC/Regional                                              20
Japan Bonds                                                      0
Cash & non Japanese Fixed interest                              25
                                   
                                                               100