Transaction in Own Shares

JPMorgan Fleming Eur Fldglng IT PLC
27 April 2005





                          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, 26th April 2005, in the market they purchased for cancellation
435,000 ordinary shares at 352p per share representing 0.81% of the ordinary
shares in issue.



The number of shares repurchased under the current authority now totals
1,385,000.



The remaining shares in issue following this repurchase total 53,131,517.







27th April 2005





For further information, please contact:



Hilary Lowe  (Company Secretary)
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3408





Chris Agar - 020 7377 1453
UBS Investment Bank (Stockbrokers to the Company)








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