Interim Management Statement

JPMorgan Indian Invest Trust PLC
29 January 2008



                      JPMorgan Indian Investment Trust plc
                                (the 'Company')

                          Interim Management Statement

                 For the three months ended 31st December 2007


This interim management statement relates to the quarter from 1st October 2007
to 31st December 2007 and contains information that covers that period, unless
otherwise stated.

Financial performance - Cumulative Total Return *

                         1 Month      3 Months       1 Year       3 Years      5 Years      10 Years
Share price              7.6%         15.7%          47.7%        212.3%       686.1%       939.1%
Net asset value          8.8%         23.3%          63.7%        248.3%       649.2%       915.2%
Benchmark                11.1%        26.2%          70.2%        246.9%       517.8%       460.3%


* total return with net dividends reinvested
Source: JPMAM/Fundamental Data

Financial position

                          As at 31st December 2007        As at 28th January 2008

Total assets              £547,612,000                    £476,163,000
Share price               447.5p                          422.0p
Net asset value           513.7p                          462.5p
Discount                  12.9%                           8.8%
Gearing                   100.1%                          100.0


Share prices shown are closing mid
Net asset values are shown excluding income with debt at fair value
Source: JPMAM/Fundamental Data

Material events

Following a ruling by the European Court of Justice, HM Revenue and Customs has
recently accepted that VAT will no longer be charged on investment management
fees.  For the Company it may also be possible to recover some of the VAT paid
in the past on management fees. The quantum of any such repayment is subject to
a number of legal and procedural considerations, and it may take some time for
confirmation of entitlement to any refunds and the timing of any repayments to
be determined.  However, the Company has been advised that the possible value
for ordinary shareholders represented by these refunds might amount to in excess
of 1p per ordinary share.

At the Company's Annual General Meeting ('AGM') held on 24th January 2008, all
of the resolutions put to shareholders were passed, including Special
Resolutions which allow the Company to allot relevant securities up to an
aggregate nominal amount of £2,620,167 or, if less 10% of the total ordinary
share capital, to make market purchases of up to 15,710,519 of its ordinary
shares, representing 14.99% of the Company's issued share capital, and to
disapply pre-emption rights on the sales of ordinary shares from treasury up to
an aggregate nominal amount of £2,620,167, representing approximately 10% of the
Company's total ordinary share capital in the issue.

At the conclusion of the Company's AGM Philip Daubeney and David Baker retired
from the Board.  Hugh Bolland was appointed Chairman and Richard Burns Chairman
of the Audit Committee.

Material transactions

Changes to share capital
                                                             Ordinary Shares of 25p

Shares in issue as at 1st October 2007                       104,806,662
Shares bought back and cancelled                             -
Shares issued - new                                          -
Shares bought back into treasury                             765,000
Shares issued - from treasury                                -
As at 31st December 2007                                     104,806,662

During the quarter, the Company made market purchases of 765,000 of its own
shares into treasury, representing 0.73% of the shares outstanding at the
beginning of the financial year, at an average discount of 12.31%. The Company
has not issued any shares from treasury or cancelled any shares in this
financial quarter.

Portfolio

Top ten holdings as at 31st December 2007

Stock name                                Sector                                         Weight %

Reliance Industries                       Energy                                           13.8
ICICI Bank                                Financials                                       6.4
Larsen & Toubro                           Industrials                                      6.3
Bharat Heavy Electricals                  Industrials                                      6.2
Housing Development Finance               Financials                                       5.4
Bharti Airtel                             Telecommunication Services                       5.1
Infosys Technologies                      Information Technology                           4.9
Kotak Mahindra Bank                       Financials                                       4.2
HDFC Bank                                 Financials                                       3.7
State Bank of India                       Financials                                       2.7


Sector Breakdown as at 31st December 2007
                                                      Portfolio %

Financials                                            31.6
Industrials                                           19.1
Energy                                                16.8
Information Technology                                7.1
Telecommunication Services                            6.5
Materials                                             4.6
Utilities                                             3.7
Other                                                 2.6
Health Care                                           2.2
Consumer Staples                                      2.0
Consumer Discretionary                                1.2
Cash                                                  2.6
Total                                                 100.00


By order of the Board
Andrew Norman, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary - Telephone [phone]
29th January 2008


Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

This interim management statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

Please note that up to date information on the Company, including daily NAV and
share prices, factsheets and portfolio information can be found at
www.jpmindian.co.uk


                      This information is provided by RNS
            The company news service from the London Stock Exchange               LGRZM