Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
15 March 2002




                          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
14th March 2002 in the market it purchased for cancellation 250,000 ordinary
shares at 177p per share representing 0.54% of the ordinary shares in issue.



The remaining shares in issue following this announcement are 45,689,423.







15th March 2002



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





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