Sector/Geographical Breakdown

Fleming Smaller Co's Inv. Trust PLC
10 December 2001



SECTOR/GEOGRAPHIC BREAKDOWNS BY % AND TEN LARGEST INVESTMENTS, November 2001

THE FLEMING SMALLER COMPANIES INVESTMENT TRUST plc

                                                                        %
BY SECTOR

Cyclical Services                                                            38
Information Technology                                                       12
Financials                                                                   16
Basic Industries                                                              9
General Industrials                                                           4
Non Cyclical Consumer Goods                                                   7
Non Cyclical Services                                                         3
Resources                                                                     4
Cyclical Consumer Goods                                                       2
Assets/Liabilities                                                            5

Total                                                                       100


BY TERRITORY                                                            %

Untied Kingdom                                                               95
Assets/Liabilities                                                            5

Total                                                                       100


TEN LARGEST INVESTMENTS

Sportsworld                                                                 1.7
John Mowlem                                                                 1.4
Wagon                                                                       1.6
Azlan Group                                                                 1.8
Paragon                                                                     1.7
Future Net                                                                  1.8
Holmes Place                                                                1.8
IG Group                                                                    1.7
Ricardo                                                                     1.7
Health Clinic                                                               1.5

Total                                                                      16.7