Holding(s) in Company

JPMorgan Fleming Japanese Smllr Cos
25 February 2005


                                  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

LAZARD ASSET MANAGEMENT LLC


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

AS ABOVE


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

LAZARD ASSET MANAGEMENT LLC


5)   Number of shares/amount of stock acquired

NOT NOTIFIED


6)   Percentage of issued class

NOT NOTIFIED


7)   Number of shares/amount of stock disposed

NOT NOTIFIED


8)   Percentage of issued class

NOT NOTIFIED


9)   Class of security

ORDINARY 25P SHARES


10)  Date of transaction

NOT NOTIFIED


11)  Date company informed

24TH FEBRUARY 2005


12)  Total holding following this notification

7,015,000


13)  Total percentage holding of issued class following this notification

17.8%


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: 25TH FEBRUARY 2005



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