Net Asset Value(s)

JPMORGAN SMALLER COMPANIES INVESTMENT TRUST PLC (the 'Company')

Legal Entity Identifier: 549300PXALXKUMU9JM18

THE COMPANY ANNOUNCES THE UNAUDITED NET ASSET VALUES (NAV) As at: 30 January 2017

THE CAPITAL ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE: 1

1,018.39

THE CAPITAL ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE:

1,040.47

THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT PAR VALUE: 1

1,025.89

THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT PAR VALUE:

1,049.57

1The above NAV assumes that the 3,555,319 Subscription shares rights have been exercised at 915p (monthly closing strike price until June 2017).

Name of contact and telephone number for queries:

Debbie Sarfas 0044 207 742 3449

Name of authorised company official responsible for making this notification:

Divya Amin 0044 207 742 1025 - Company Secretary

Date: 31 January 2017