Transaction in Own Shares

JPMorgan Fleming Eur Fldglng IT PLC
02 June 2006

                          STOCK EXCHANGE ANNOUNCEMENT


           JPMORGAN FLEMING EUROPEAN FLEDGELING INVESTMENT TRUST PLC


                           PURCHASE OF OWN SECURITIES



JPMorgan Fleming European Fledgeling Investment Trust plc announces that on
Friday 2nd June 2006 it purchased in the market, to hold in treasury, 78,000
ordinary shares at 589.64 pence per share.


Following this repurchase the Company now holds a total of 1,098,000 shares in
treasury at an average size-weighted discount of 11.47%.


The number of shares in issue less the total number of treasury shares is
51,683,517.



2nd June 2006




For further information, please contact:


Hilary Lowe
JPMorgan Asset Management (UK) Limited,
020 7742 6000








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