Results to 5 May 2000

Jupiter Investment Trust PLC
4 August 2000


Preliminary Announcement of unaudited results for the period ended 5th May
2000.

                       CHAIRMAN'S STATEMENT

Your Company was launched on 2nd May 2000.  By 30th June 2000, the net asset
value per share had increased to 104.86p.  This represents a rise of 5.3%
since launch and compares to rises of 0.1% in the FTSE All-Share Index and
3.3% in the FT World Index over the same period.

As was stated in the prospectus in April, your Company would not satisfy the
conditions for approval by the Inland Revenue as an investment trust in
respect of the accounting period in which it was launched.  The first
accounting period was therefore shortened so as to end on 5th May 2000 (three
days after your Company's admission to listing on the London Stock Exchange). 
It is for this reason that the Company is now required to produce accounts for
that period and to hold its first Annual General Meeting in August of this
year.

Since 6th May your board has directed the affairs of your Company so as to
satisfy the conditions necessary for its approval by the Inland Revenue as an
investment trust.  In future years annual accounts will be made up to 30th
June and copies of the annual report and accounts are expected to be
despatched to shareholders in the following October.

Since launch, the investment manager of your Company has adopted a cautious
approach in light of the current volatility in the market.  As at 5th May 2000
the Company had invested 22.7% of the cash raised under the placing and offer
for subscription, of which the majority was invested in unit trusts managed by
Jupiter Unit Trust Managers Limited.  It is your directors' intention to
review the position when the portfolio is 50% invested.


J L Duffield
Chairman

3rd August 2000


                       CONSOLIDATED STATEMENT OF TOTAL RETURN
                        (INCORPORATING THE REVENUE ACCOUNT)

                                              5th April 2000 to 5th May 2000
                                          Revenue       Capital      Total
                                            £'000         £'000      £'000

Realised gains on investments                   -           433        433
Unrealised appreciation of investments          -           298        298
Exchange gains                                  -           411        411
Deposit interest                               72             -         72
                                            _____         _____      _____

GROSS REVENUE AND CAPITAL GAINS                72         1,142      1,214
Management fees (inc VAT)                      (7)            -         (7)
Other expenses                                (17)            -        (17)
                                            _____         _____      _____

RETURN ON ORDINARY ACTIVITIES BEFORE 
        TAXATION                               48         1,142      1,190
                                            _____         _____      _____
Tax on ordinary activities                    (14)         (253)      (267)
                                            _____         _____      _____

RETURN ON ORDINARY ACTIVITIES AFTER TAX
       FOR THE PERIOD                          34           889        923
                                            _____         _____      _____

RETURN PER ORDINARY SHARE (p)                0.04          0.95       0.99

The revenue column of this statement is the profit and loss account of the
Group.

All revenue and capital items in the above statement derive from continuing
operations.

The Company was incorporated on 5th April 2000 and the shares were listed on
the London Stock Exchange on 2nd May 2000, on which date it commenced
business.  Consequently, the Consolidated Statement of Total Return above
reflects the returns from 2nd May 2000 to 5th May 2000.

                                             5th May 2000
                                                 £'000

Shareholders Fund                                93,692
                                                 ______

Net Asset Value per Ordinary share               100.57

                         CONSOLIDATED BALANCE SHEET
                              as at 5th May 2000

                                                 5th May
                                                    2000
                                                   £'000

FIXED ASSETS
Investments                                        21,298
                                                   ______

CURRENT ASSETS
Debtors                                                32
Cash at bank                                       94,043
                                                   ______
                                                   94,075
CREDITORS: amounts falling due within one year    (21,681)
                                                   ______
Net current assets                                 72,394
                                                   ______
Total assets less current liabilities              93,692
                                                   ______
CAPITAL AND RESERVES
Called up share capital                               932
Share premium account                              91,837
Capital reserve - unrealised                          298
Capital reserve - realised                            591
Revenue reserve                                        34
                                                   ______
EQUITY SHAREHOLDERS' FUNDS                         93,692
                                                   ______
Net Asset Value per Ordinary share (p)             100.57
                                                   ______

                      CONSOLIDATED CASH FLOW STATEMENT
                       for the period to 5th May 2000

                                                 5th April
                                                        to
                                                   5th May
                                                      2000
                                                     £'000
OPERATING ACTIVITIES
Net cash inflow from operating activities              430
                                                    ______

CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT
Purchase of fixed asset investments                (92,813)
Proceeds from the sale of fixed asset investments   93,246
                                                    ______

Net cash inflow from capital expenditure and 
     financial investment                              433
                                                    ______
Net cash inflow before financing                       863
                                                    ______

FINANCING
Issue of loan notes                                 92,813
Issue of shares under offer                            346
Costs of share issue                                  (390)
                                                    ______
Net cash inflow from financing                      92,769
                                                    ______
Increase in cash                                    93,632
                                                    ______


                RECONCILIATION OF CONSOLIDATED REVENUE 
             TO NET CASH INFLOW FROM OPERATING ACTIVITIES

                                                  5th April
                                                         to
                                                    5th May
                                                       2000
                                                      £'000

Revenue before interest payable and taxation             48
Increase in prepayments and accrued income              (32)
Increase in accruals                                     24
Increase in other creditors                             390
                                                     ______
Net cash inflow from operating activities               430
                                                     ______                   
                                                                   

The figures for the period ended 5th May 2000 do not constitute full accounts
within the meaning of section 240 of the Companies Act 1985.  

The report and accounts will be posted to shareholders shortly and copies will
be available from the registered office of the Company at 1 Grosvenor Place,
London SW1X 7JJ.

The Annual General Meeting is to be convened for 30th August 2000.

By Order of the Board
Jupiter Asset Management Limited
Secretaries