Holding(s) in Company

JPMorgan Fleming Japanese Smllr Cos
05 April 2006

                                  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

ASSET VALUE INVESTORS LIMITED

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

NON-BENEFICIAL

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

CHASE NOMINEES          3,192,635
NORTRUST NOMINEES       1,413,075
BONY NOMINEES           715,970
STATE STREET NOMINEES   231,616
PICTET                  71,621
MELLON                  90,662



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

400,000


8)   Percentage of issued class

1.01%

9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

30TH MARCH 2006

11)  Date company informed

4TH APRIL 2006

12)  Total holding following this notification

5,715,579




13)  Total percentage holding of issued class following this notification

14.50%

14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

NICOLA WALTERS    020 7742 3453

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



HILARY LOWE



Date of notification: 5TH APRIL 2006






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