Net Asset Value(s) - Replace

JPMorgan US Discovery IT PLC
12 June 2007


PLEASE NOTE THAT THESE ARE THE CORRECT NAVS AS AT 11TH JUNE - THIS
REPLACES THE EARLIER ANNOUNCEMENT NO 1937Y WHICH WERE THE NAVS
AS AT 8TH JUNE.



DATE: 12TH 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 11th 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 11th
JUNE 2007 WERE AS FOLLOWS:



JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:                      963.52


JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:*****                 959.39











*****THE ABOVE NAV ASSUMES THAT THE 280,000 TREASURY SHARES HAVE BEEN REISSUED
AT THE PREVIOUS NIGHT'S CLOSING MID PRICE.









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