Purchase of Own Securities

JPMorgan Fleming Eur Fldglng IT PLC
31 October 2002


                          STOCK EXCHANGE ANNOUNCEMENT


           JPMORGAN FLEMING EUROPEAN FLEDGELING INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming European Fledgeling Investment Trust plc announces that
yesterday in the market they purchased for cancellation 250,000 ordinary shares
at 153p per share representing 0.44% of the ordinary shares in issue.

The number of shares repurchased to date now totals 5,601,303.

The remaining shares in issue following this repurchase total 56,941,517.


31st October 2002

For further information, please contact:

Jonathan Latter  (Company Secretary)
JP Morgan Fleming Asset Management (UK) Limited, 020 7742 3408

Nick Corke
Credit Lyonnais Securities Europe (UK) -
Stockbrokers to the Company, 020 7214 5576



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