Asset Analysis as at 31st Jan

JPMorgan Fleming Smaller Cos IT PLC
08 February 2006


                     ASSET ANALYSIS AS AT 31st January 2006



JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                               % funds as at
                                                                    31/01/06
UK FTSE 100                                                                0
UK FTSE 250 (excluding IC's)                                              31
FTSE Small Cap (excluding IC's)                                           61
IC income and capital shares                                               0
Other IC's                                                                 0
AIM OFEX                                                                  10
International equities                                                     0
Cash/cash equivalents                                                     -2
                                                                         100






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