NEW YORK, NY -- (Marketwire) -- 09/24/08 -- Japan Smaller Capitalization Fund, Inc. (NYSE: JOF) (the "Fund") announced that it will hold its 2008 Annual Meeting of Shareholders at the offices of Nomura Asset Management U.S.A. Inc., 2 World Financial Center - Building B, 18th Floor, New York, New York, on Thursday, November 13, 2008 at 10:30 A.M. to consider the election of two Directors to serve as Class II Directors, each to serve for a term to expire in 2011.

The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is Nomura Asset Management U.S.A. Inc., which is based in New York. Nomura Asset Management U.S.A. Inc. is a subsidiary of Nomura Asset Management Co., Ltd., which is one of the largest investment advisory companies in Japan in terms of assets under management and which serves as the Investment Adviser to the Fund.