Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

JP MORGAN US SMALLER COS INVESTMENT TRUST

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

P

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

RATHBONE BROTHERS PLC

4. Full name of shareholder(s)  (if different from 3.):iv

RATHBONE BROTHERS PLC

Rathbone Investment Management Ltd

Rathbone Investment Management International Ltd

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

2nd April 2012

6. Date on which issuer notified:

3rd April 2012

7. Threshold(s) that is/are crossed orreached: vi, vii

5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB0003417101

25p Ordinary

270,780

270,780

N/A

N/A

273,030

N/A

5.03%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

N/A

N/A

N/A

N/A

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

273,030

5.03%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

RATHBONE BROTHERS PLC*

Rathbone Investment Management Ltd 4.97%

Rathbone Investment Management International Ltd 0.06%

* Rathbone Brothers Plc is the holding company of the following.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

12. Date on which proxy holder will cease to holdvoting rights:

13. Additional information:

Total shares in Issue used as denominator is 5430000

14. Contact name:

COMPLIANCE DEPARTMENT

15. Contact telephone number:

020 7399 0000

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

RATHBONE BROTHERS PLC

Contact address

(registered office for legal entities)

159 NEW BOND STREET

LONDON, W1S 2UD

Phone number & email

020 7399 0000

Other useful information

(at least legal representative for legal persons)

COMPLIANCE DEPARTMENT

B: Identity of the notifier, if applicable

Full name

N/A

Contact address

N/A

Phone number & email

N/A

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.