Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
14 September 2001




                         STOCK EXCHANGE ANNOUNCEMENT



                    THE FLEMING JAPANESE SMALLER COMPANIES

                             INVESTMENT TRUST PLC



                REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



The Fleming Japanese Smaller Companies Investment Trust plc announces that on
Friday 14th September 2001 in the market it purchased for cancellation 55,000
ordinary shares at 176p per share representing 0.11% of the ordinary shares in
issue.

The number of shares repurchased to date now totals 8,775,000.

The remaining shares in issue following this announcement are 48,469,423.



14th September 2001

For further information, please contact:



Hilary Lowe
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3274

Alan Brierley
Dresdner Kleinwort Wasserstein Securities Limited- Stockbrokers to the Company
020 7475 6672