Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
03 June 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 Wednesday
2nd June 2004 in the market they purchased for cancellation 22,000 ordinary
shares at 331 pence per share representing 0.03% of the ordinary shares in
issue.



The current repurchase authority for 11,000,330 shares was approved by
shareholders on 29th April 2004.  To date 421,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 72,963,458.



3rd June 2004



For further information, please contact:



Jonathan Latter

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





Shamus Henderson

Cazenove Global Equities- Stockbrokers to the Company, 0207 155 8122








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