Disclosure:Listing Rule 21.20

JPMorgan Fleming Smaller Cos IT PLC
02 February 2005


                          Stock Exchange Announcement

             JPMorgan Fleming Smaller Companies Investment Trust plc

Disclosure re Listing Rule 21.20 (I)(i)

In accordance with the continuing obligations under Listing Rule 21.20 (I)(i),
the Company confirms that, as at the close of business on 31st January 2005,
there was one portfolio investment representing a total of 0.0% of its gross
assets that was invested in other listed investment companies and trusts which
have either made no statement or have a stated investment policy that they are
likely to invest more than 15% of their gross assets in other listed investment
companies and trusts.

The holding is as follows:-

Govett Oriental InvestmentTrust


2nd February 2005


For further information, please contact:

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


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