1st Quarter Results

Jupiter European Opportunities Trust PLC

Interim Management Review for the three months ended 31 August 2007

The Board of Jupiter European Opportunities Trust PLC (the "Company") is pleased
to announce its interim management review for the quarter ended 31 August 2007.

During  the  period  from 1 June 2007 to the 31 August 2007, the  Company's  net
asset  value per share fell by 0.5 per cent. to 223.52p, which compares  with  a
fall of 5.5 per cent.** for the Company's benchmark, the FTSE World Europe ex UK
Total  Return Index over the same period.  As at 30 September 2007 the net asset
value per Share had recovered to 230.45p, equivalent to a 2.6 per cent. increase
since  31  May.   This  compares with 1.1 per cent. decline  for  the  Company's
benchmark.

Since  the  year  end,  under the authority granted at the last  annual  general
meeting,  the board approved the issues of 200,000 Ordinary shares  on  20  July
2007  at a price of 233.0p each and a further 400,000 Ordinary shares on 24 July
2007  at  a  price  of  231.3p  each.  Both issues were  made  at  prices  which
represented  a  small premium to net asset value.  The total proceeds  of  these
issues were £1,391,200.

Investment Manager's Report for the Quarter Ended 31 August 2007

European  markets fell towards the end of July as markets began to  worry  about
the  degree  to  which  banks  were exposed to subprime  mortgage-backed  bonds.
Indigestion in the financing of buyouts has weakened a key support for  equities
as  markets  acknowledged that M&A deals would now be  fewer  and  more  costly.
Against this background the Company performed well with returns helped by a good
start to the Q2 reporting season.

Although  European equity markets ended the month of August only slightly  down,
it  certainly didn't feel like that. In fact there was great volatility  as  the
possibility  of  a  credit crunch came closer. The European Central  Bank  acted
early in an attempt to support money markets, but it was not until the middle of
the  month that equity markets bounced strongly when the Federal Reserve cut its
discount rate by 0.5%.

Alex Darwall
Fund Manager, Jupiter Asset Management Limited

Total Assets as at 31 August 2007: £182,761,626

Shares in Issue on 31 August 2007: 81,764,723

                      Net Asset Value (p)   Market Price (p)  Discount
Ordinary Shares*      223.52                219.75            1.69%

Portfolio Distribution on 31 August 2007 Percentage of Total Assets

France                         44%
United Kingdom                 16%
Denmark                        16%
The Netherlands                11%
Norway                         8%
Switzerland                    7%
Others                         20%
Cash and fixed interest        (22%)
                               100%

The Company's exposure to other UK listed investment companies was nil on 31
August 2007.

Top Ten Holdings on 31 August 2007

Company                    Country of Listing        %
Novo-Nordisk               Denmark                   8.5
Geophysique                France                    7.9
Novozymes                  Denmark                   7.1
Neopost                    France                    7.0
Reed Elsevier              The Netherlands           6.4
Euler Hermes               France                    6.2
Intertek Group             United Kingdom            5.4
Johnson Matthey            United Kingdom            4.8
Halfords Group             United Kingdom            4.7
Essilor International      France                    4.5

                                                     62.5

Comparative Performance to 31 August 2007

                      1 Month %   3 Months    1 Year %   3 Years    5 Years    Since       Since Last
                                  %                                            Launch %    Annual
                                                                                           Report %
Total Assets*         (0.1)       (0.5)       25.5       94.6       166.9      105.7       (0.5)
FTSE World Europe ex
UK Index              (0.5)       (5.5)       18.8       84.6       116.4      42.3        (5.5)
Ordinary Share NAV    (0.1)       (0.5)       29.1       104.3      196.0      136.1       (0.5)
Ordinary Share Price  0.7         (0.7)       32.8       121.4      209.5      116.5       (0.7)

*Adjusted  for  changes to share capital in September & October  2002,  March  &
April 2003, May & July 2007 and changes to amounts borrowed.

OBJECTIVE OF THE COMPANY

The  objective  of the Company is to invest in securities of European  companies
and  in  sectors  or geographical areas which are considered by  the  investment
manager to offer good prospects for capital growth, taking into account economic
trends and business development.

Availability of Monthly Fact Sheets

Monthly   fact   sheets  for  the  Company  are  available  for  download   from
www.jupiteronline.co.uk  and  by  post  or  fax  on  request  from  the  company
secretarial department.

The  Company's Ordinary shares are listed on the London Stock Exchange  and  the
prices  are  published  in the Financial Times and The Times  under  `Investment
Companies'.

The  Net Asset Values of the Company's ordinary shares are calculated weekly and
can    be    viewed    on    the    London    Stock    Exchange    website    at
www.londonstockexchange.com (under the heading `Market News').

For further information, please contact:

Richard Pavry
Director of Investment Trusts
Jupiter Asset Management Limited
[e-mail]
020 7314 4822

Jenny Thompson
Company Secretarial Department
Jupiter Asset Management Limited
[e-mail]
020 7314 5565

The Company's Registered office is at 1 Grosvenor Place, London SW1X 7JJ.

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.