Transaction in Own Shares

JPMorgan Fleming Smaller Cos IT PLC
21 February 2005





                          STOCK EXCHANGE ANNOUNCEMENT

            JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



The following replaces the 'Transaction in Own Shares' announcement released on
21st February 2005 at 10.07 hrs under RNS: 8209I



The figure stated for the number of shares remaining in issue was 245,916,186
and should have been 24,916,186.



All other details remain unchanged.  The full amended text appears below.





JPMorgan Fleming Smaller Companies Investment Trust plc announces that on Friday
18th February 2005 it purchased for cancellation 100,000 ordinary shares in the
market at 310.5 pence per share representing a total of 0.40% of the ordinary
shares in issue.



The number of shares repurchased under the current authority now totals 500,000.


The remaining shares in issue, following the above repurchases, is 24,916,186.





21st February 2005






For further information, please contact:


Andrew Norman

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


Gavin Tooke
Dresdner Kleinwort Wasserstein - Stockbrokers to the Company
020 7623 8000








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