Purchase of Own Securities

JPMorgan Fleming American IT PLC
21 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 Tuesday 20
August in the market it purchased for cancellation 50,000 ordinary shares at
514p per share  representing a total of 0.8% 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 612,000 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase is 60,457,663

21st August 2002


For further information, please contact:


Richard Lewis

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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