Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
29 October 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
Monday 29th October 2001 in the market it purchased for cancellation 250,000
ordinary shares at 200p per share representing 0.52% of the ordinary shares in
issue.


The number of shares repurchased to date now totals 9,620,000.


The remaining shares in issue following this announcement are 47,834,423.



29th October 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