Asset Analysis as at 31/3/01

Fleming Smaller Co's Inv. Trust PLC
5 April 2001


ASSET ANALYSIS AS AT 31st MARCH 2001

THE FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                    % funds as at 31/3/01
UK FTSE 100                                                                   0
UK FTSE 250 (excluding IC's)                                                 20
FTSE Small Cap (excluding IC's)                                              81
IC income and capital shares                                                  0
Other IC's                                                                    0
International equities                                                        0
Cash equivalents                                                            (1)
                                                                            100