Purchase of Own Securities

JPMorgan Fleming American IT PLC
27 August 2002









                          STOCK EXCHANGE ANNOUNCEMENT





                 JPMORGAN FLEMING AMERICAN INVESTMENT TRUST PLC





                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION









JPMorgan Fleming American Investment Trust plc announces that on Friday 23
August in the market it purchased for cancellation 25,000 ordinary shares at
525p per share  representing a total of 0.4% of the ordinary shares in issue.



The current repurchase authority for 9,139,960 shares was approved by
shareholders on 25 April 2002.  To date 762,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase is 60,407,663







27th August 2002



For further information, please contact:



Fraser Easton
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3477





Peter Sheen

Cazenove & Co - Stockbrokers to the Company
020 7214 7507










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