Interim Results

JPMorgan Emerging Mkts Invest Trust
16 February 2006

                       LONDON STOCK EXCHANGE ANNOUNCEMENT

                 JPMORGAN EMERGING MARKETS INVESTMENT TRUST PLC

     UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31st DECEMBER 2005


The Directors of JPMorgan Emerging Markets Investment Trust plc announce the
Company's unaudited results for the six months ended 31st December 2005.


Chairman's Interim Review


We enjoyed a further period of outstanding performance in the six months to 31st
December 2005. The net asset value total return was +38.3% compared with a total
return of +32.0% for our benchmark index, the MSCI Emerging Markets free index
(in sterling terms). The Company's share price over the same period was even
better at +45.0%, reflecting a significant narrowing of the discount to net
asset value from 12.3% to 7.0%. The narrowing of the discount reflects the
continuing investor confidence in Emerging Markets and also a recognition of the
outperformance by the Company.

During the period we announced a merger with F&C Emerging Markets which was
overwhelmingly supported by both sets of shareholders. Unfortunately, one of the
major shareholders of F&C Emerging objected to the terms and was able to
frustrate the merger. However, I am delighted to report that the Company has
just announced its participation in a new transaction with F&C Emerging Markets
on revised terms, again with no cost for our shareholders.  Shareholders will in
due course receive a circular which will explain the revised proposals and will
seek their approval for the resolutions required to implement them.

The political and economic uncertainties are not lessening and, whilst Emerging
Markets continue to show strong growth, it is prudent to assume that there will
be some levelling off in the outstanding performance of the first six months.
Nevertheless, I remain confident that the all round strength of the Manager will
continue to maximise the opportunities available to us.


Roy Reynolds

Chairman

16th February 2006


For further information please contact:

Philip Jones, JPMorgan Asset Management (UK) Limited...............020 7742 6000





JPMorgan Emerging Markets Investment Trust plc

Unaudited figures for the six months ended 31 December 2005

Income Statement (Unaudited)

                         Six months to 31 December 2005   Six months to 31 December 2004      Year to 30 June 2005

                            Revenue     Capital     Total   Revenue   Capital       Total   Revenue   Capital     Total
                              £'000       £'000     £'000     £'000     £'000       £'000     £'000     £'000     £'000


Realised gains/(losses)
on investments                    -       5,082     5,082         -     (721)       (721)         -     8,459     8,459
Unrealised gains on
investments                       -      75,320    75,320         -    36,285      36,285         -    65,042    65,042
Currency gains/(losses)
on cash and short-term
deposits held during the
period                            -         304       304         -     (204)       (204)         -       494       494
Other capital charges             -        (29)      (29)         -      (55)        (55)         -      (19)      (19)

UK dividends                     21           -        21        27         -          27        63         -        63
                                                               
Overseas dividends            2,513           -     2,513     2,231         -       2,231     5,079         -     5,079
Scrip dividends                 234           -       234       111         -         111        90         -        90
Deposit interest                185           -       185        49         -          49       166         -       166
Stock lending fees               28           -        28        26         -          26        37         -        37
                            _______    ________   _______    ______   _______    ________   _______   _______   _______

Gross return                  2,981      80,677    83,658     2,444    35,305      37,749     5,435    73,976    79,411

Management fee              (1,315)           -   (1,315)     (837)         -       (837)   (1,867)         -   (1,867)
                                                                                                            
Other administrative
expenses                      (291)           -     (291)     (262)         -       (262)     (542)         -     (542)
Performance fee                   -     (1,702)   (1,702)         -     (802)       (802)         -   (2,741)   (2,741)

Interest payable               (11)           -      (11)         -         -           -       (2)         -       (2)

                            _______     _______   _______    ______   _______     _______   _______   _______   _______

Net return before
taxation                      1,364      78,975    80,339     1,345    34,503      35,848     3,024    71,235    74,259
Taxation                      (175)           -     (175)     (152)         -       (152)     (439)         -     (439)

                             ______     _______   _______    ______   _______      ______   _______   _______   _______

Transfer to reserves          1,189      78,975    80,164     1,193    34,503      35,696     2,585    71,235    73,820
                             ______     _______   _______    ______   _______     _______    ______   _______    ______

Return per ordinary           1.32p      87.56p    88.88p     1.32p    38.25p      39.57p     2.87p    78.98p    81.85p
share



The results for the year ended 30th June 2005 and for the six months ended 31st
December 2004 have been restated in accordance with Financial Reporting
Standards 21,25 and 26.



JPMorgan Emerging Markets Investment Trust plc

Unaudited figures for the six months ended 31 December 2005

Reconciliation of Movement in Shareholders' Funds (Unaudited)


                                                   Capital     Capital     Capital
                                                   reserve    reserve  redemption
                                         Share    realised  unrealised     reserve      Other    Revenue
                                       Capital                                        reserve    reserve      Total
                                         £'000       £'000       £'000       £'000      £'000      £'000      £'000

At 30th June 2004 (as previously
stated)
                                        22,548      12,761      41,773       1,665     69,939      (331)    148,355
Final dividend declared                      -           -           -           -          -          -          -
                                       _______    ________     _______     _______    _______    _______   ________
At 30th June 2004 (as restated)         22,548      12,761      41,773       1,665     69,939      (331)    148,355
Net return from ordinary activities          -      11,598      59,637           -          -        375     71,610
Final dividend 2005 declared                 -           -           -           -          -      2,210      2,210
                                       _______    ________     _______     _______    _______    _______   ________
At 30th June 2005 (as restated)         22,548      24,359     101,410       1,665     69,939      2,254    222,175
Net return from ordinary activities          -       9,332      69,643           -          -      1,189     80,164
Final dividend 2005 paid and                                                                     (2,210)    (2,210)
declared
                                       _______    ________     _______     _______    _______    _______   ________
At 31st December 2005                   22,548      33,691     171,053       1,665     69,939      1,233    300,129



JPMorgan Emerging Markets Investment Trust plc

Unaudited figures for the six months ended 31 December 2005


BALANCE SHEET                                                        31 December     31 December         30 June
                                                                            2005            2004            2005
                                                                           £'000           £'000           £'000

Investments at valuation                                                 293,684         181,640         211,152


Net current assets                                                         7,374           2,411          12,292
                                                                         _______         _______         _______
Total assets less current liabilities                                    301,058         184,051         223,444


Provisions for liabilities and charges                                     (929)               -         (1,269)
                                                                         _______         _______         _______
Total net assets                                                         300,129         184,051         222,175
                                                                           =====           =====           =====
Net asset value per ordinary share                                        332.8p          204.1p          246.3p

CASH FLOW STATEMENT
                                                                            2005            2004            2005
                                                                           £'000           £'000           £'000

Net cash (outflow)/inflow from operating activities                        (940)           (236)           1,396

Net cash outflow from returns on investments and servicing
of finance                                                                  (11)               -             (2)

Net cash (outflow)/inflow from capital expenditure and
financial investment                                                     (3,063)         (4,123)           5,902

Equity dividend paid                                                     (2,210)               -               -

Net cash inflow from financing                                                 9               -               -
                                                                         _______          ______          ______
(Decrease)/increase in cash for the period                               (6,215)         (4,359)           7,296
                                                                           =====            ====            ====


The results for the year ended 30th June 2005 and for the six months ended 31st
December 2004 have been restated in accordance with Financial Reporting
Standards 21,25 and 26

The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30 June 2005 have been delivered to the Registrar of Companies.


JPMORGAN ASSET MANAGEMENT (UK) LIMITED

16 February 2006


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