Transaction in Own Shares

JPMorgan Fleming American IT PLC
09 February 2005

                          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 8th
February 2005 in the market it purchased for cancellation 126,234 ordinary
shares at 559.11 pence per share representing a total of 0.27% of the ordinary
shares in issue.



The number of shares repurchased under the current authority now totals
5,510,017.



The remaining shares in issue, following the above repurchases, is 46,205,418.


9th February 2005





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





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