Holding(s) in Company

JPMorgan Fleming Japanese Smllr Cos
03 February 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          3,416,010

NORTRUST NOMINEES       1,508,950

BONY NOMINEES           771,454

STATE STREET NOMINEES   246,082

PICTET                  76,647

MELLON                  96,436



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

250,000


8)   Percentage of issued class

0.63%

9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

26TH JANUARY 2006

11)  Date company informed

2ND FEBRUARY 2006

12)  Total holding following this notification

6,115,579




13)  Total percentage holding of issued class following this notification

15.52%

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: 3RD FEBRUARY 2006






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