Purchase of Own Securities

JPMorgan Fleming American IT PLC
17 June 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 Monday 16th
June in the market it purchased for cancellation the following:

50,000 ordinary shares at 498p per share representing a total of 0.09% of the
ordinary shares in issue;

The number of shares repurchased under the current authority now totals 411,300.

The remaining shares in issue following the above repurchases is 56,668,838.


17th June 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 7155 8121



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