RNS Number:0223J
JPMorgan Fleming Japanese Smllr Cos
20 March 2003




                          STOCK EXCHANGE ANNOUNCEMENT



        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST PLC



                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming Japanese Smaller Companies Investment Trust plc announces that
on 19th March 2003 in the market they purchased for cancellation 500,000
ordinary shares at 119p per share representing 1.20% of the ordinary shares in
issue.



The current repurchase authority for 6,608,255 shares was approved by
shareholders on 26th July 2002.  To date 2,775,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 41,309,423.








20 March 2003



For further information, please contact:



Hilary Lowe  (Company Secretary)
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3274



Gavin Tooke
Dresdner Kleinwort Wasserstein Securities Limited- Stockbrokers to the Company
020 7475 6685






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

POSBLGDXXUDGGXG