Net Asset Value(s) - Replace

JPMorgan Russian Securities PLC
10 April 2007

The following replaces announcement 5988U released to the London Stock Exchange
at 12.21 pm on Tuesday 10th April 2007.

Please note that the Unaudited Net Asset Values are as at 9th April 2007 and not
as previously stated at 5th April 2007.

All other details remain unchanged.


JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES
(NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF BUSINESS ON 9th APRIL
2007.  THESE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDATIONS
(I.E. EXCLUDING CURRENT FINANCIAL YEAR REVENUE ITEMS), EXCEPT WHERE NOTED BELOW.
THE UNDERLYING INVESTMENTS OF THE INVESTMENT TRUSTS HAVE BEEN VALUED ON A BID
BASIS, OR IF MORE APPROPRIATE, A LAST TRADE BASIS.  PROVISIONS FOR PERFORMANCE
FEES, CAPITAL EXPENSES AND CAPITAL INTEREST ARE INCLUDED IN THESE NAVS WHERE
APPLICABLE.

AN ESTIMATE OF THE CURRENT REVENUE RESERVE IS INCLUDED WHERE THIS RESERVE IS IN
DEFICIT.

THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT PAR AS AT MARKET CLOSE ON 9th
APRIL 2007 WERE AS FOLLOWS:

JPMORGAN RUSSIAN SECURITIES PLC:                                          590.37



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