Interim Results

JPMorgan Asian Investment Tst PLC
05 May 2006

                          STOCK EXCHANGE ANNOUNCEMENT

                      JPMORGAN ASIAN INVESTMENT TRUST PLC




The Company announces its unaudited results for the six months to 31st March
2006.


The Company's total return on net assets in sterling terms was +18.6% over the
six months to 31st March 2006.  This compared to a total return of +18.7% from
the Company's benchmark, the Morgan Stanley Composite Asia Free Index ex-Japan
in sterling terms, over the same period.


Earnings per share for the six months amounted to 0.11p.





5th May 2006



For further information:



Philip Jones................................................  020 7742 6000
For and on behalf of
JPMorgan Asset Management (UK) Limited




JPMorgan Asian Investment Trust plc
Unaudited figures for the six months ended 31st  March 2006
Income Statement  (Unaudited)

                                                                                            Year to 30th September 2005
                             Six months to 31st March 2006  Six months to 31st March 2005           (restated)
                               Revenue    Capital     Total   Revenue   Capital      Total   Revenue   Capital     Total
                                 £'000      £'000     £'000     £'000     £'000      £'000     £'000     £'000     £'000


Realised (losses)/gains on
investments                          -    (3,513)   (3,513)         -     2,258      2,258         -    13,571    13,571
Unrealised gains on                  -     38,304    38,304         -    13,283     13,283         -    36,027    36,027
investments
Currency (losses)/gains on
cash and short term deposits
held during the year                 -      (134)     (134)         -     (194)      (194)         -        38        38

Transfer of warrant reserve
on lapse of warrants                 -          -         -         -     4,895      4,895         -     4,895     4,895
Unrealised gains on short
term currency contracts              -          -         -         -         -          -         -        10        10
Unrealised loss on USD loan          -      (140)     (140)         -         -          -         -         -         -
Other capital charges                -        (9)       (9)                (13)       (13)         -      (20)      (20)
                                                                   -
UK dividend income                 214          -       214       170         -        170       302         -       302
Overseas dividends               1,578          -     1,578     1,517         -      1,517     5,258         -     5,258
Scrip dividends                     12          -        12         -         -          -       491         -       491
Deposit interest                    50          -        50        30         -         30       172         -       172
Underwriting commission             23          -        23        20         -         20        37         -        37
                               _______   ________   _______    ______   _______   ________   _______   _______   _______

Gross return                     1,877     34,508    36,385     1,737    20,229     21,966     6,260    54,521    60,781
Management fee                   (769)          -     (769)     (602)         -      (602)   (1,262)         -   (1,262)
Other administrative             (327)          -     (327)     (328)         -      (328)     (613)         -     (613)
expenses   
                               _______   ________   _______    ______   _______   ________   _______   _______   _______

Net return before finance
costs and taxation                 781     34,508    35,289       807    20,229     21,036     4,385    54,521    58,906
Finance costs                    (361)          -     (361)     (215)         -      (215)     (285)         -     (285)

                               _______    _______   _______    ______   _______    _______   _______   _______   _______

Net return before taxation         420     34,508    34,928       592    20,229     20,821     4,100    54,521    58,621

Taxation                         (243)          -     (243)     (171)         -      (171)   (1,270)         -   (1,270)
                                ______    _______   _______    ______   _______     ______   _______   _______   _______

Net return attributable to         177     34,508    34,685       421    20,229     20,650     2,830    54,521    57,351
shareholders

Return per ordinary share        0.11p     21.01p    21.12p     0.26p    12.48p     12.74p     1.74p    33.50p    35.24p

Return per ordinary share
excluding transfer of on
lapse of warrants                  N/A        N/A       N/A     0.26p     9.46p      9.72p     1.74p    30.50p    32.24p






The results for the year ended 3oth September 2005 have been restated in
accordance with Financial Reporting Standards 21.

As the Company did not declare and distribute an interim dividend for the half
year ended 31st March 2005 it is not necessary for the interim results ended

31st March 2005 to be restated in accordance with Financial Reporting Standards
21.




JPMorgan Asian Investment Trust plc
Unaudited figures for the six months ended 31st  March 2006
Reconciliation of Movements in Shareholders' Funds (Unaudited)




                                                      Capital                     
                                                      redemp-                     Exercised
                                   Share     Share       tion     Other   Capital   Warrant  Warrant   Revenue
                                 Capital   premium    reserve   Reserve   reserve   reserve  Reserve   reserve     Total
                                   £'000     £'000      £'000     £'000     £'000     £'000    £'000     £'000     £'000

At 30th September 2004 (as        40,522        26      1,111   115,856     2,414         4    5,868     2,047   167,848
restated)
Net capital return from                -         -          -         -    49,626         -        -         -    49,626
ordinary activities
Exercise of warrants               1,378     4,135          -         -         -         -        -         -     5,513
Realised warrant premium               -         -          -         -         -       973    (973)         -         -
Expiry of warrants                     -         -          -         -     4,895         -  (4,895)         -         -
Net revenue return from                -         -          -         -         -         -        -     2,830     2,830
ordinary activities
Repurchase of shares into              -         -          -   (4,384)         -         -        -         -   (4,384)
treasury shares
Issue of treasury shares               -       186          -       991         -         -        -         -     1,177
Dividends appropriated in the          -         -          -         -         -         -        -   (1,702)   (1,702)
year
                                 _______   _______   ________  ________  ________   _______  _______   _______  ________
                     
At 30th September 2005 (as        41,900     4,347      1,111   112,463    56,935       977        -     3,175   220,908
restated)
Net capital return from                -         -          -         -    34,508         -        -         -    34,508
ordinary activities
Net revenue return from                -         -          -         -         -         -        -       177       177
ordinary activities
Dividends appropriated in the          -         -          -         -         -         -        -   (2,873)   (2,873)
year
                                 _______   _______   ________  ________  ________   _______  _______   _______  ________
At 31st March 2006                41,900     4,347      1,111   112,463    91,443       977   39,473       479   252,720





JPMorgan Asian Investment Trust plc
Unaudited figures for the six months ended 31st  March 2006

BALANCE SHEET                                             31st March 2006   31st March 2005    30th September 2005
                                                                                                        (restated)
                                                                    £'000             £'000                  £'000

Investments at fair value through profit or loss                  274,739           185,856                213,691

Net current (liabilities)/assets                                  (1,795)             3,419                  7,263
                                                                  _______           _______                _______
Total assets less current liabilities                             272,944           189,275                220,954


Creditors (amounts falling due after more than one               (20,178)           (5,000)                      -
year)
Provision for deferred taxation                                      (46)             (129)                   (46)
                                                                  _______           _______                _______
Total net assets                                                  252,720           184,146                220,908
                                                                    =====             =====                  =====
Net asset value per ordinary share                                 153.9p            112.0p                 134.5p


CASH FLOW STATEMENT
                                                                     2006              2005                   2005
                                                                    £'000             £'000                  £'000

Net cash inflow from operating activities                              42               468                  3,517

Net cash outflow from returns on investments and
servicing of finance                                                (301)             (204)                  (281)

Total tax paid                                                      (237)              (41)                  (934)

Net cash (outflow)/inflow from capital expenditure and
financial investment                                             (27,576)           (5,142)                  5,493

Total equity dividends paid                                       (2,873)           (1,702)                (1,702)

Net cash inflow/(outflow) from financing                           21,181             7,544                  2,306
                                                                  _______            ______                 ______
(Decrease)/increase in cash for the period                        (9,764)               923                  8,399
                                                                    =====              ====                   ====






The results for the year ended 30th September 2005 have been restated in
accordance with Financial Reporting Standards 21.

As the Company did not declare and distribute an interim dividend for the half
year ended 31st March 2005 it is not necessary for the interim results ended
31st March 2005 to be restated in accordance with Financial Reporting Standards
21.



The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30th September 2005 have been delivered to the Registrar of
Companies.





JPMORGAN ASSET MANAGEMENT (UK) LIMITED




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