Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
23 April 2004

                          STOCK EXCHANGE ANNOUNCEMENT


               JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Claverhouse Investment Trust plc announces that on the Friday
23rd April 2004 in the market they purchased for cancellation 50,000 ordinary
shares at 350.75 pence per share representing 0.07% of the ordinary shares in
issue.

The current repurchase authority for 11,330,784 shares was approved by
shareholders on 25th April 2003.  To date 2,129,500 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase total 73,459,458.



23rd April 2004


For further information, please contact:

Jonathan Latter
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 6000

Tom Harris
Cazenove Global Equities- Stockbrokers to the Company
0207 155 8122


                      This information is provided by RNS
            The company news service from the London Stock Exchange