RNS Number:6929D
Henderson Japanese Smlr Cos Tst PLC
16 May 2001


Henderson Japanese Smaller Companies Trust plc  (the "Company")

Proposals for the winding up of the Company

The Board of Henderson Japanese Smaller Companies Trust plc announces that,
following consultation with the Company's principal shareholders, it intends
to put forward proposals for the voluntary liquidation of the Company
providing shareholders with an opportunity to realise some or all of their
investment in the Company for cash.

The proposals will include a rollover option to enable shareholders to elect
to maintain their exposure to Japanese equities in a tax efficient manner
through an open-ended vehicle managed by Henderson Global Investors.

The proposals will require approval by the Company's shareholders and certain
other clearances.  The Board intends to write to shareholders and
warrantholders as soon as practicable with detailed terms of the proposals.


Enquiries:


Anthony Loehnis                             020 7925 1144
Henderson Japanese Smaller Companies
Trust plc

Stephen Westwood                            020 7410 4100
Henderson Global Investors Limited

Bob Cowdell                                 020 7678 8000
Hoare Govett Limited





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