Change in Fee Structure

RNS Number : 1306G

JPMorgan US Smaller Co. IT

18 November 2015

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN US SMALLER COMPANIES INVESTMENT TRUST PLC

CHANGE IN FEE STRUCTURE

The Board of JPMorgan US Smaller Companies Investment Trust plc announces that it is changing its fee structure. With the existing fee arrangement the Company's basic management fee has been 1.20% per annum on assets up to £100 million and 1.00%. per annum on any assets in excess of £100 million. Assets are defined as the Company's total assets less current liabilities, making no deduction for the principal amounts arising under loan agreements. Any investment in funds, excluding the JPMorgan Liquidity Funds, on which J.P. Morgan Asset Management earns a management fee are excluded from this calculation. The fee is calculated and paid monthly in arrears.

An agreement has been reached with J.P. Morgan Funds Ltd ('JPMF') to revert to a management fee of 1.00% per annum on all of the Company's assets, removing the 1.20% per annum management fee on assets up to £100 million. This change will be implemented at the Company's year end, and be effective from 1st January 2016.

18th November 2015

For further information, please contact:

James Glover

For and on behalf of