Holding(s) in Company

JPMorgan Fleming Japanese Smllr Cos
21 July 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

JPMORGAN  FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

2)   Name of shareholder having a major interest

THE FLEMING JAPANESE 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 FLEMING JAPANESE INVESTMENT TRUST PLC:   3,500,000


5)   Number of shares/amount of stock acquired

NOT STATED

6)   Percentage of issued class

 NOT STATED

7)   Number of shares/amount of stock disposed

NOT STATED

8)   Percentage of issued class

NOT STATED


9)   Class of security

ORDINARY 10p SHARES


10)  Date of transaction

NOT STATED

11)  Date company informed

21st JULY 2003

12)  Total holding following this notification

3,500,000

13)  Total percentage holding of issued class following this notification

8.82%



14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

HILARY LOWE 0207-742-3274

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

NADINE KLOPPER 0207-742-3458



17) Date of notification



21st JULY 2003









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