Purchase of Own Securities

JPMorgan Fleming American IT PLC
15 January 2003





                          STOCK EXCHANGE ANNOUNCEMENT

                 JPMORGAN FLEMING AMERICAN INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming American Investment Trust plc announces that on Tuesday 14th
January in the market it purchased for cancellation 42,500 ordinary shares at
485p per share representing a total of 0.07% 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 2,528,500 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase is 58,641,163.







15 January 2003



For further information, please contact:



Fraser Easton
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3425





Tod Davis
Cazenove & Co - Stockbrokers to the Company
020 7214 7507








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