CURRENCY HEDGE

Fleming Japanese Inv Trust PLC
04 August 2003


4 August 2003


                       LONDON STOCK EXCHANGE ANNOUNCEMENT

                   THE FLEMING JAPANESE INVESTMENT TRUST PLC

                                 CURRENCY HEDGE


4 August 2003


The Company announces that it has today closed out at a profit its existing 12
month forward sale of Y against £ equal to approximately 10% of gross assets.
The hedge was initiated on 14 January 2003.


Craig Cleland
For and on behalf of
JPMorgan Fleming Asset Management (UK) Limited - Secretary



For further information:

Stephen Mitchell or Craig Cleland
JPMorgan Fleming Asset Management (UK) Limited                020 7742 6000


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