Director Shareholding

JPMorgan Fleming Claverhouse IT PLC
03 December 2003

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1)  Name of company

JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST PLC

2)  Name of director

MR R P WALTHER

3)  Please state whether notification indicates that it is in respect of
    holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18 or in respect of
a non-beneficial interest

AS 2) ABOVE

4)  Name of the registered holder(s) and, if more than one holder, the
    number of shares held by each of them (if notified)

COGENT NOMINEES LTD

5)  Please state whether notification relates to a person(s) connected
    with the Director named in 2 above and identify the connected person(s)

N/A

6)  Please state the nature of the transaction. For PEP transactions
    please indicate whether general/single co PEP and if discretionary/non
    discretionary

REINVESTMENT OF DIVIDEND

7)  Number of shares/amount of
    stock acquired

46 SHARES

8)  Percentage of issued class

0.00%

9)  Number of shares/amount
    of stock disposed

N/A

10) Percentage of issued class

N/A

11) Class of security

ORDINARY SHARES OF 25p

12) Price per share

327p

13) Date of transaction

1ST DECEMBER 2003

14) Date company informed

1ST DECEMBER 2003

15) Total holding following this notification

8,630 SHARES

16) Total percentage holding of issued class following this notification

0.012%

If a director has been granted options by the company please complete the
following boxes

17) Date of grant

N/A

18) Period during which or date on which exercisable

N/A

19) Total amount paid (if any) for grant of the option

N/A

20) Description of shares or debentures involved: class, number

N/A

21) Exercise price (if fixed at time of grant) or indication that price
    is to be fixed at time of exercise

N/A

22) Total number of shares or debentures over which options held
    following this notification

N/A

23) Any additional information



24) Name of contact and telephone number for queries

LUCY SULLIVAN 020 7742 3451

25) Name and signature of authorised company official responsible for
    making this notification



JONATHAN LATTER 020 7742 3408

    Date of Notification..... 3RD DECEMBER 2003..................


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