Net Asset Value(s)

JPMorgan US Discovery IT PLC
07 June 2007



JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES
(NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF BUSINESS ON 6th JUNE
2007.  THESE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDATIONS
(I.E. EXCLUDING CURRENT FINANCIAL YEAR REVENUE ITEMS), EXCEPT WHERE NOTED BELOW.
THE UNDERLYING INVESTMENTS OF THE INVESTMENT TRUSTS HAVE BEEN VALUED ON A BID
BASIS, OR IF MORE APPROPRIATE, A LAST TRADE BASIS.  PROVISIONS FOR PERFORMANCE
FEES, CAPITAL EXPENSES AND CAPITAL INTEREST ARE INCLUDED IN THESE NAVS WHERE
APPLICABLE.


AN ESTIMATE OF THE CURRENT REVENUE RESERVE IS INCLUDED WHERE THIS RESERVE IS IN
DEFICIT.


THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT PAR AS AT MARKET CLOSE ON 6th
JUNE 2007 WERE AS FOLLOWS:


JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:                               957.78


JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:*****                          954.74


*****  THE ABOVE NAV ASSUMES THAT THE 230,000 TREASURY SHARES HAVE BEEN REISSUED
       AT THE PREVIOUS NIGHT'S CLOSING MID PRICE.

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