Asset Analysis at 30.06.05

JPMorgan Fleming Smaller Cos IT PLC
12 July 2005

                      ASSET ANALYSIS AS AT 30th June 2005



JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                          % funds as at 30/06/05
UK FTSE 100                                                                    0
UK FTSE 250 (excluding IC's)                                                  22
FTSE Small Cap (excluding IC's)                                               69
IC income and capital shares                                                   0
Other IC's                                                                     0
AIM OFEX                                                                      10
International equities                                                         0
Cash/cash equivalents                                                         -1
                                                                             100



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