Closed Period Notification

JPMORGAN JAPAN SMALLER

COMPANIES TRUST PLC

(the 'Company')

Closed Period Notification

In accordance with the Market Abuse Regulation the Company announces that it has today entered into a closed period, which will remain in place until the Company releases its financial results for the year ended 31 March 2017.

The Company is satisfied that any inside information which the Directors or the Company may have during the closed period has previously been notified to a Regulated Information Service. The Company is therefore not prohibited from repurchasing its own securities, or issuing new securities, during this closed period.

JPMorgan Funds Limited - Secretary

19 April 2017

For further information, please contact:

Rhys Williams

JPMorgan Funds Limited 020 7742 4000