Directorate Change

JPMorgan Fleming Smaller Cos IT PLC
04 April 2005


              JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST

                          STOCK EXCHANGE ANNOUNCEMENT


                               DIRECTORATE CHANGE


The Company announces today that Mr. Richard Oldfield is resigning as a Director
with immediate effect. Mr. Oldfield has been a Director of the Company since
1999 and the Board wishes to record its gratitude for his service and
contribution to the Company and wishes him well in his new venture.


For further information, please contact:

Andrew Norman
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
020 7742 6000

4th April 2005


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