Purchase of Own Securities

Fleming Japanese Smaller Cos IT PLC
25 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 today
it purchased in the market for cancellation 200,000 ordinary shares at 176p per
share representing 0.44% of the ordinary shares in issue.



The remaining shares in issue following this announcement are 44,779,423.




25th   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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