AGM Statement

JPMorgan Fleming Japanese Smllr Cos
26 July 2006



                          STOCK EXCHANGE ANNOUNCEMENT



                                 AGM STATEMENT



        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC



                                 26TH JULY 2006







Following the Annual General Meeting of the Company, which was held today, the
Board is pleased to announce that all of the Ordinary Resolutions put to
shareholders were passed.



In addition, two Special Resolutions were passed which:



 i. will allow the Company to make market purchases of 5,907,472 or if less, that
    number of ordinary shares which is equal to 14.99% of the Company's issued
    ordinary share capital; and



ii. authorised the increase in the maximum aggregate Directors' fees from
    £100,000 to £150,000 per annum.



Despite a clear majority of shareholders being in favour of the proposal to
re-issue shares held in treasury at a discount to net asset value, the majority
was insufficient to achieve the requisite 75% of those voting to carry a special
resolution. Therefore, with the consent of the meeting, resolutions 8 and 9 were
withdrawn.



26th July 2006





For further information, please contact:



Hilary Lowe

For and on behalf of

JPMorgan Asset Management (UK) Limited - Secretary

020 7742 6000






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