Transaction in Own Shares

JPMorgan Eur Fldglng Inv Trust PLC
20 March 2008


                          STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN EUROPEAN FLEDGELING INVESTMENT TRUST PLC

                  CANCELLATION OF OWN SECURITIES FROM TREASURY


JPMorgan European Fledgeling Investment Trust plc announces that on Wednesday
19th March 2008 it cancelled 1,431,319 ordinary shares that had been bought back
in the market between 17th May 2006 and 14th September 2006 at a weighted
average discount of 11.93% and held in Treasury.

Following this cancellation the Company now holds a total of 2,564,875 shares in
Treasury at an average size-weighted discount of 13.39%.

The number of shares in issue is 51,350,198 and the total number of shares in
issue less the total number of shares held in Treasury is 48,785,323.


20th March 2008


For further information, please contact:

Jonathan Latter
JPMorgan Asset Management (UK) Limited,
020 7742 6000


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