Transaction in Own Shrs-Rep

JPMorgan Fleming American IT PLC
22 December 2004

                          STOCK EXCHANGE ANNOUNCEMENT



  THE FOLLOWING REPLACES THE 'TRANSACTION IN OWN SHARES' ANNOUNCEMENT RELEASED
       YESTERDAY, 21ST DECEMBER 2004, AT 4:55 PM UNDER RNS NUMBER 7040G.

 THE NUMBER OF SHARES REPURCHASED UNDER THE CURRENT AUTHORITY AND THE REMAINING
  SHARES IN ISSUE, FOLLOWING THE REPURCHASE, WERE INCORRECTLY STATED AS BEING
 4,323,213 AND 47,392,222 RESPECTIVELY.  THE CORRECT FIGURES WERE 4,738,213 AND
                                  47,337,222.

  ALL OTHER DETAILS REMAIN UNCHANGED AND THE FULL AMENDED TEXT APPEARS BELOW.


                 JPMORGAN FLEMING AMERICAN INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

JPMorgan Fleming American Investment Trust plc announces that on Monday 20th
December 2004 in the market it purchased for cancellation 98,379 ordinary shares
at 525.2517 pence per share representing a total of 0.21% of the ordinary shares
in issue.

The number of shares repurchased under the current authority now totals
4,378,213.

The remaining shares in issue, following the above repurchases, is 47,337,222.

22nd December 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


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