Interim Management Statement

Jupiter European Opportunities Trust PLC

Interim Management Review for the three months ended 31 August 2010

The Board of Jupiter European Opportunities Trust PLC (the "Company") is pleased
to announce its interim management review for the quarter ended 31 August 2010.

During  the period from  1 June 2010 to 31 August  2010, the Company's net asset
value per share excluding income and expenses rose by 3.6 per cent. to 240.88p,
which  compares with a  rise of 0.5 per  cent. for the  Company's benchmark, the
FTSE World Europe ex UK Total Return Index, over the same period.

Investment Manager's Report for the Quarter Ended 31 August 2010

During  the quarter ended 31 August 2010 European equity markets remained choppy
but  range bound. June was  dominated by fears that  a growing liquidity problem
among  some European banks could potentially develop into a wider banking crisis
and  centred on the possibility of default  by Greece, Ireland and Portugal, the
Eurozone's most indebted countries.

In  July, bank shares  rallied after the  Basel Committee watered down proposals
for  the amount  of liquid  funds banks  should retain. However, European equity
markets  fell in August on fears that the recovery in the US economy was fragile
and slowing. A more widespread aversion to risk saw bond yields fall sharply.


Against  this  backdrop,  European  Union  GDP  estimates  for 2010 were revised
upwards  from 0.9% to 1.9% helped by strong  German exports. The majority of our
companies  posted strong Q2 results. Croda International reported strong interim
profits 15% ahead of consensus and increased its dividend by 50%. Norwegian bank
DnB  NOR released impressive  Q2 earnings some  8% ahead of consensus and raised
its  full year  guidance. Aixtron  and Grenkeleasing  also reported  better than
expected  interim results. Coloplast reported solid  results and raised its full
year guidance again.


Alexander Darwall
Fund Manager, Jupiter Asset Management Limited

Total Assets as at 31 August 2010: £192,269,162

Shares in Issue on 31 August 2010: 79,819,523



+------------+----------------------+----------------------+----------+--------+
|            |Net Asset Value per   |Net Asset Value per   |Market    |Discount|
|            |share excluding       |share including       |Price (p) |        |
|            |income/expenses(p)    |income/expenses(p)    |          |        |
+------------+----------------------+----------------------+----------+--------+
|Ordinary    |240.88                |242.38                |215.5     |(11)%   |
|Shares*     |                      |                      |          |        |
+------------+----------------------+----------------------+----------+--------+

Portfolio Distribution on 31 August 2010 as Percentage of Total Assets



 Country                      %

 United Kingdom              30

 Denmark                     18

 France                      15

 Germany                     15

 The Netherlands             12

 Sweden                       8

 Norway                       8

 Switzerland                  7

 Others                       2

 Cash and fixed interest   (15)

                            100


The Company's exposure to UK listed investment companies was nil on 31 August
2010.

Top Ten Holdings on 31 August 2010



 Company               Country of Listing   %

 Novo-Nordisk          Denmark              7.2

 Novozymes             Denmark              6.9

 Croda International   United Kingdom       6.7

 Experian              United Kingdom       6.4

 Neopost               France               5.5

 Johnson Matthey       United Kingdom       5.4

 Elsevier              The Netherlands      5.1

 Intertek Group        United Kingdom       4.8

 Syngenta              Switzerland          4.4

 Koninklijke Vopak     The Netherlands      4.2

                                            _____
                                            56.6


Comparative Performance to 31 August 2010



+------------+--------+---------+--------+--------+--------+---------+---------+
|            | 1 Month| 3 Months|1 Year %| 3 Years| 5 Years|    Since|    Since|
|            |       %|        %|        |       %|       %| Launch %|     Last|
|            |        |         |        |        |        |         |   Annual|
|            |        |         |        |        |        |         | Report %|
+------------+--------+---------+--------+--------+--------+---------+---------+
|Total       |   (2.1)|      3.6|    29.9|     7.8|    67.5|    121.8|      3.6|
|Assets*     |        |         |        |        |        |         |         |
+------------+--------+---------+--------+--------+--------+---------+---------+
|FTSE World  |        |         |        |        |        |         |         |
|Europe ex UK|        |         |        |        |        |         |         |
|Index       |   (2.8)|      0.5|   (0.2)|   (9.2)|    29.8|     29.2|      0.5|
+------------+--------+---------+--------+--------+--------+---------+---------+
|Ordinary    |        |         |        |        |        |         |         |
|Share NAV   |   (2.1)|      3.6|    29.9|     7.8|    72.8|    154.5|      3.6|
+------------+--------+---------+--------+--------+--------+---------+---------+
|Ordinary    |        |         |        |        |        |         |         |
|Share Price |   (2.7)|     11.5|    38.1|   (1.9)|    62.3|    112.3|     11.5|
+------------+--------+---------+--------+--------+--------+---------+---------+

*Adjusted for changes to share capital and amounts borrowed.

OBJECTIVE OF THE COMPANY

The  objective of the Company  is to invest in  securities of European companies
and  in sectors  or geographical  areas which  are considered  by the investment
manager to offer good prospects for capital growth, taking into account economic
trends and business development.

INVESTMENT POLICY

The  Investment Manager  adopts a  stock picking  approach in  the belief that a
thorough  analysis and understanding  of a company  is the best  way to identify
long-term   superior   earnings   prospects.   This  understanding  begins  with
identifying   those  companies  where  the  ownership  structure  and  incumbent
management  are conducive  to the  realisation of  the aim of achieving superior
long-term  earnings  growth.  The  Investment  Manager  will  seek  to  identify
companies which enjoy certain key business characteristics including some or all
of the following:

-  a strong management record  and team, and the  confidence that the Investment
Manager has in that management's ability to explain and account for its actions;

-  proprietary  technology  and  other  factors  which  indicate  a  sustainable
competitive advantage;

-  a reasonable expectation that demand for companies' products or services will
enhance long-term growth; and

-  an understanding that structural changes are likely to benefit that company's
prospects rather than have a negative impact on them.

It  is intended that  the Company will  have some exposure  to most of the major
sectors  of the European economy.   There may be sectors  which do not enjoy the
business   characteristics   described  above  and  in  such  circumstances  the
Investment Manager will seek to identify companies that are expected to generate
superior earnings growth within that sector.

In analysing potential investments, the Investment Manager will employ differing
valuation   techniques   depending   on   their   relevance   to   the  business
characteristics of a particular company. However, the underlying feature will be
the sustainability and growth of free cash-flow in the long-term.

Material Events

On  11 August 2010 the directors announced the payment of a dividend of 2.1p per
share  payable  on  11 October  2010 to  those  shareholders  who  appear on the
register on 10 September 2010.

Availability of Monthly Fact Sheets

Monthly   fact   sheets   for  the  Company  are  available  for  download  from
www.jupiteronline.co.uk  and  by  post  or  fax  on  request  from  the  company
secretarial department.

The  Company's Ordinary shares are  listed on the London  Stock Exchange and the
prices  are published  in the  Financial Times  and The  Times under `Investment
Companies'.

The  Net Asset Values of the Company's ordinary shares are calculated weekly and
can    be    viewed    on    the    London    Stock    Exchange    website    at
www.londonstockexchange.com (under the heading 'Market News').

For further information, please contact:

Richard Pavry
Director of Investment Trusts
Jupiter Asset Management Limited
[e-mail]
020 7314 4822

Jenny Thompson
Company Secretarial Department
Jupiter Asset Management Limited
[e-mail]
020 7314 5565

The Company's Registered office is at 1 Grosvenor Place, London SW1X 7JJ.

This   interim   management  statement  has  been  prepared  solely  to  provide
information  to meet the  requirements of the  UK Listing Authority's Disclosure
and Transparency Rules.





[HUG#1449989]








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