Holding(s) in Company

JPMorgan US Discovery IT PLC
25 March 2008

Form TR-1 with annex. FSA Version 2.1 updated April 2007


For filings with the FSA include the annex

For filings with issuer exclude the annex


TR-1: Notifications of Major Interests in Shares      JPMorgan US Discovery Investment Trust
                                                              Plc
1. Identity of the issuer or the underlying issuer of
existing shares to which voting rights are attached:


2. Reason for notification (yes/no)


An acquisition or disposal of voting rights


An acquisition or disposal of financial instruments which may result in the acquisition
of shares already issued to which voting rights are attached


An event changing the breakdown of voting rights
                                                                                        

Other (please specify):  Change to Issued Share Capital     YES
                                                     

3. Full name of person(s) subject to notification
obligation:                                          JPMorgan Chase & Co
                                                     

4. Full name of shareholder(s) (if different from    JPMorgan Asset Management (UK) Limited
3):
                                                     

5. Date of transaction (and date on which the        29 February 2008
threshold is crossed or reached if different):
                                                     

6. Date on which issuer notified:                    20 March 2008
                                                     

7. Threshold(s) that is/are crossed or reached:      11%



8: Notified Details
A: Voting rights attached to shares


Class/type of      Situation previous to the   Resulting situation after the triggering transaction
shares             triggering transaction
                   Number of     Number of     Number of    Number of voting       Percentage of voting
If possible use    shares        voting rights shares       rights                 rights
ISIN code

                                                            Direct     Indirect    Direct     Indirect
GB0003417101       811,386       811,386       811,386                 811,386                11.13%


B: Financial Instruments


Resulting situation after the triggering transaction


Type of financial    Expiration date      Exercise/ conversion No. of voting rights  Percentage of voting
instrument                                period/date          that may be acquired  rights
                                                               (if the instrument
                                                               exercised/converted)
N/A



Total (A+B)


Number of voting rights                              Percentage of voting rights
811,386                                              11.13%



9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively
held, if applicable:
Total disclosable holding for JPMorgan Chase & Co. : 811,386 (11.13%)

Holdings by controlled undertakings of JPMorgan Chase & Co. are as follows:



JPMorgan Asset Management (UK) Limited: 811,386 (11.13%)






Proxy Voting:


10. Name of proxy holder:                            N/A


11. Number of voting rights proxy holder will cease  N/A
to hold:


12. Date on which proxy holder will cease to hold    N/A
voting rights:




13. Additional information:                           Please note the group has other holdings which are
                                                      covered by exemptions.


14 Contact name:                                      Michael Kirwan


15. Contact telephone name:                           020 7325 4513





For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer


Annex: Notification of major interests in shares




A: Identity of the persons or legal entity subject to the notification obligation
Full name                                            JPMorgan Chase & Co

(including legal form of legal entities)


Contact address                                      270 Park Avenue, New York, NY10017

(registered office for legal entities)


Phone number & email                                 001 212 270 6000


Other useful information                             N/A

(at least legal representative for legal persons)




B: Identity of the notifier, if applicable
Full name                                            Michael Kirwan


Contact address                                      JPMorgan Chase Bank, N.A., 13th Floor, 125 London
                                                     Wall, London, EC2Y 5AJ

Phone number & email                                 020 7325 1413

                                                     [e-mail]
Other useful information                             N/A



(e.g. functional relationship with the person or
legal entity subject to the notification obligation)


C: Additional information
N/A




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