Interim Management Statement

Jupiter European Opportunities Trust PLC

Interim Management Review for the three months ended 28 February 2011

The Board of Jupiter European Opportunities Trust PLC (the "Company") is pleased
to  announce its  interim management  review for  the quarter  ended 28 February
2011.

During  the period from  1 December 2010 to 28 February  2011, the Company's net
asset  value per share excluding  income and expenses rose  by 10.2 per cent. to
300.71p, which  compares  with  a  rise  of  13.1 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 28 February 2011

European  equities performed strongly during the three months under review.  The
Company's  benchmark, the  FTSE World  Europe ex  UK, returned  13.1 per cent in
sterling terms, comparing favourably with developed markets and emerging markets
alike.  In the emerging markets  the MSCI Asia ex  Japan Index returned -3.8 per
cent  and the MSCI Latin America returned  -0.6% while the S&P 500 returned 8.3
per cent, all in sterling terms.

The strong performance of European equities was principally driven by financials
as concerns over the Eurozone debt crisis eased temporarily in December 2010 and
January  2011.  The Company's comparative underperformance in terms of net asset
value can largely be attributed to the fund's structural underweight exposure to
financials.

The  oil and  gas sector  also performed  strongly as  political turmoil  in the
Middle  East and North Africa  drove oil prices over  $100 for the first time in
two  years.  Rising oil prices contributed to a rise in inflation, which reached
a  rate of  2.4 per cent  in February  in the  Eurozone. However, despite rising
inflation  and the  ongoing sovereign  debt concerns  in the peripheral Eurozone
countries,  the International  Monetary Fund  raised World 2011 growth forecasts
from  4.2 per cent to 4.4 per cent and  for the European Union from 1.6 per cent
to 1.7 per cent.

Full  year corporate results for  2010 tended to exceed analysts' expectations.
The  Company saw  strong results  from Aixtron,  the manufacturer  of LED making
equipment,  Marine Harvest, the world's largest  salmon farmer and Novo Nordisk,
the world's largest and most profitable insulin manufacturer.

Detractors  from performance included Kudelski, a leader in digital security and
De  La Rue,  the bank  note producer,  which rebuffed  a takeover  approach from
Oberthur, a French rival.

Company  borrowings  increased  from  £24.9  million  to  £32.4 million over the
reporting  period.  As  at 28 February  2011 the Company's  borrowings equate to
13.5 per cent. of the Company's total assets.

We  remain  focused  on  trying  to  identify world-beating companies which have
strong  business models with  differentiated products or  services that are well
placed  to weather these macroeconomic vicissitudes.  There are always 'special'
cases where companies are able to prosper because of long-term, secular trends.
Our  holdings tend to be dominant operators  in niche areas.   Their exposure to
fast-growing  economies around the world should  continue to prove beneficial in
helping to sustain their profitability.

Alexander Darwall
Fund Manager, Jupiter Asset Management Limited

Total Assets as at 28 February 2011: £240,022,350

Shares in Issue on 28 February 2011: 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    |300.71                |300.03                |275.00    |(9)%    |
|Shares*     |                      |                      |          |        |
+------------+----------------------+----------------------+----------+--------+

Portfolio Distribution on 28 February 2011 Percentage of Total Assets

 Country                      %

 United Kingdom              29

 Denmark                     17

 Germany                     16

 France                      14

 The Netherlands             11

 Norway                      11

 Switzerland                  9

 Sweden                       7

 Others                       1

 Cash and fixed interest   (15)

                            100


The Company's exposure to other UK listed investment companies was nil on 28
February 2011.

Top Ten Holdings on 28 February 2011

 Company               Country of Listing   %

 Novo-Nordisk          Denmark              6.8

 Experian              United Kingdom       6.5

 Novozymes             Denmark              6.3

 Croda International   United Kingdom       5.8

 Neopost               France               5.5

 Syngenta              Switzerland          5.2

 Johnson Matthey       United Kingdom       5.1

 Marine Harvest        The Netherlands      4.7

 Aixtron               Sweden               4.5

 Elsevier              The Netherlands      4.2

                                            _____
                                            54.6


Comparative Performance to 28 February 2011

+------------+---------+---------+-------+--------+--------+---------+---------+
|            |1 Month %| 3 Months| 1 Year| 3 Years| 5 Years|    Since|    Since|
|            |         |        %|      %|       %|       %| Launch %|     Last|
|            |         |         |       |        |        |         |   Annual|
|            |         |         |       |        |        |         | Report %|
+------------+---------+---------+-------+--------+--------+---------+---------+
|Total       |      2.1|     10.2|   31.5|    39.1|    77.4|    176.9|     29.4|
|Assets*     |         |         |       |        |        |         |         |
+------------+---------+---------+-------+--------+--------+---------+---------+
|FTSE World  |         |         |       |        |        |         |         |
|Europe ex UK|         |         |       |        |        |         |         |
|Index       |      1.2|     13.1|   13.7|    10.5|    32.5|     54.1|     20.0|
+------------+---------+---------+-------+--------+--------+---------+---------+
|Ordinary    |         |         |       |        |        |         |         |
|Share NAV   |      2.1|     10.2|   31.5|    39.1|    79.7|    217.7|     29.4|
+------------+---------+---------+-------+--------+--------+---------+---------+
|Ordinary    |         |         |       |        |        |         |         |
|Share Price |        -|     13.2|   42.3|    32.5|    65.2|    170.9|     42.3|
+------------+---------+---------+-------+--------+--------+---------+---------+

*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

During the period under review there were no material events.

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.







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Source: Jupiter European Opportunities Trust PLC via Thomson Reuters ONE

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