Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
7 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 7th September 2001 in the market it purchased for cancellation 250,000
ordinary shares at 193p per share representing 0.51% of the ordinary shares in
issue.



The number of shares repurchased to date now totals 8,720,000.



The remaining shares in issue following this announcement are 48,524,423.





7th September 2001


For further information, please contact:


Linda Field
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3426


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