AGM Statement

JPMorgan Fleming Smaller Cos IT PLC
29 November 2006

                          STOCK EXCHANGE ANNOUNCEMENT



                                 AGM STATEMENT



            JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC



                               29TH NOVEMBER 2006



Following the Annual General Meeting of the Company, which was held today, the
Board is pleased to announce that all of the Ordinary Resolutions put to
shareholders were passed.  In addition, three items of special business were
passed which:



i)                    will allow the Company to increase the maximum aggregate
Directors' fees from £100,000 to £125,000;



ii)                  will allow the Company to make market purchases of up to
3,438,883  ordinary shares, representing 14.99% of the Company's issued share
capital; and



iii)                change the Company's name to 'JPMorgan Smaller Companies
Investment Trust plc'.



29th November 2006



For further information, please contact:



Andrew Norman



For and on behalf of

JPMorgan Asset Management (UK) Limited - Company Secretary

020 7742 6000




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