Directorate Change

JPMorgan Fleming Smaller Cos IT PLC
28 May 2004



                           STOCK EXCHANGE ANNOUNCEMENT

           JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC



28th May 2004

Board Change

The Board of JPMorgan Fleming Smaller Companies Investment Trust plc announce
the retirement of Mr Rupert Carington as a non-executive Director of the Company
with effect from 31st May 2004.


For further information, please contact:


Carolyn Ladd.............................................020 7742 3435

J.P. Morgan Fleming Asset Management (UK) Limited - Secretary


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