Purchase of Own Securities

JPMorgan Fleming American IT PLC
21 March 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 Thursday 20th
March in the market it purchased for cancellation 70,000 ordinary shares at 452p
per share representing a total of 0.12% 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 3,190,500 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase is 57,979,163.







21 March 2003



For further information, please contact:



Hilary Lowe

For and on behalf of

J.P. Morgan Fleming Asset Management (UK) Limited

020 7742 3274





Tod Davis

Cazenove & Co - Stockbrokers to the Company

020 7214 7507








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