Transaction in Own Shares

JPMorgan Fleming American IT PLC
22 April 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 Thursday 21st
April 2005 in the market it purchased for cancellation 100,000 ordinary shares
at 516.65 pence per share representing a total of 0.22% of the ordinary shares
in issue.



The number of shares repurchased under the current authority now totals
6,722,986.



The remaining shares in issue, following the above repurchases, is 44,992,449







22nd April 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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