Holding in Company

Fleming Japanese Smaller Cos IT PLC
23 January 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

THE FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

2)   Name of shareholder having a major interest

THE SCOTTISH INVESTMENT TRUST PLC

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

IN RESPECT OF SHAREHOLDER IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them

THE SCOTTISH INVESTMENT TRUST PLC


5)   Number of shares/amount of stock acquired

N/A

6)   Percentage of issued class

N/A

7)   Number of shares/amount of stock disposed

225,000

8)   Percentage of issued class

0.44%


9)   Class of security

ORDINARY 10p SHARES


10)  Date of transaction

17TH JANUARY 2001

11)  Date company informed

17TH JANUARY 2001

12)  Total holding following this notification

1,406,000

13)  Total percentage holding of issued class following this notification

2.78%



14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

HILARY LOWE, 020 7742 3274

16)  Name of authorised company official responsible for making this
notification

MARK DEVIN, 020 7742 3453



17)  Date of notification



TUESDAY 23RD JANUARY 2001