Holding(s) in Company

JPMorgan Fleming Smaller Cos IT PLC
01 June 2004

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC

2)   Name of shareholder having a major interest

JP MORGAN FLEMING ELECT PLC - MANAGED GROWTH

3)   Please state whether notification indicates that it is in respect of
     holding of the shareholder named in 2 above or in respect of a
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

IN RESPECT OF SHAREHOLDER IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the
     number of shares held by each of them

CHASE NOMINEES LIMITED

5)   Number of shares/amount of stock acquired

150,000

6)   Percentage of issued class

0.59%

7)   Number of shares/amount of stock disposed

N/A

8)   Percentage of issued class

N/A

9)   Class of security

ORDINARY 25P SHARES


10)  Date of transaction

NOT STATED

11)  Date company informed

28 MAY 2004

12)  Total holding following this notification

2,000,000 SHARES


13)  Total percentage holding of issued class following this notification

7.87%

14)  Any additional information



15)  Name of contact and telephone number for queries

NICOLA WALTERS 020 7742 3453

16)  Name and signature of authorised company official responsible for
     making this notification

     RICHARD LEWIS 020 7742 3477


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