Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
10 November 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 Tuesday  9th
November 2004 in the market they purchased for cancellation 75,000 ordinary
shares at 359 pence per share representing 0.11% 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 2,252,200 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 71,132,258.








10th November 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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