Transaction in Own Shares

JPMorgan Fleming American IT PLC
08 October 2004





                          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 7th
October 2004 in the market it purchased for cancellation 88,000 ordinary shares
at 544.80 pence per share representing a total of 0.18% of the ordinary shares
in issue.


The number of shares repurchased under the current authority now totals
3,044,980.



The remaining shares in issue, following the above repurchases, is 48,670,455.







8th October 2004







For further information, please contact:



Andrew Norman
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
020 7742 6000





Shamus Henderson
Cazenove & Co - Stockbrokers to the Company
020 7155 8007








                      This information is provided by RNS
            The company news service from the London Stock Exchange