Investment Manager

JPMorgan Fleming Japanese Smllr Cos
03 October 2005

                          STOCK EXCHANGE ANNOUNCEMENT

        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC

                               INVESTMENT MANAGER


The Board of Directors is pleased to announce that it has reached agreement with
JPMorgan Asset Management for Mr David Mitchinson to assume sole responsibility
for managing the investment portfolio with effect from 1st October 2005.



Mr Mitchinson has been the joint manager with Mr Tadashi Ohta of the portfolio
since December 2004 and the Board believes that it would be beneficial for the
Company to have a single manager focussing on the portfolio.



Commenting on the decision the Chairman, Mr Alan Clifton, said;



'The Board is pleased that David Mitchinson will be solely responsible for the
portfolio management going forwards. The Directors have been extremely impressed
with his knowledge of Japanese companies and believe that this will be greatly
beneficial to the Company. I would like to thank Tadashi Ohta for his
involvement with the management of the Company's portfolio'



3rd October 2005





For further information please contact:

Craig Cleland

JPMorgan Asset Management (UK) Limited - Secretary

0207 742 3418






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