Asset Analysis as at 31st Aug

JPMorgan Fleming Japanese Smllr Cos
14 September 2005


                      ASSET ANALYSIS AS AT 31st August 2005


JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                          % funds as at 31/08/05
UK                                                                             0
Japan 1st section                                                             53
Japan 2nd section                                                             14
Japan OTC/regional                                                            32
Japan bonds                                                                    0
Cash and non Japanese fixed interest                                           1
                                                                             100






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