Directorate Change

JPMorgan Fleming Japanese Smllr Cos
05 March 2003


                          STOCK EXCHANGE ANNOUNCEMENT


        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC




The Board of JPMorgan Fleming Japanese Smaller Companies Investment Trust plc
announces that Mr Christopher Purvis has decided to step down as a Director of
the Company with immediate effect.

Mr Purvis has been a Director of the Company since 30 November 2000, and the
Board thanks Mr Purvis for his valuable contribution during that time.


5th March 2003



For further information, please contact

Hilary Lowe........................................................020 7742 6000
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary



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