Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
11 October 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 Friday 8th
October 2004 in the market they purchased for cancellation 40,000 ordinary
shares at 357 pence per share representing 0.06% 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 1,762,200 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase total 71,622,258.


11th October 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

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