Interim Results

JPMorgan Fleming Emerge Mkts IT PLC
04 February 2005


               JPMORGAN FLEMING EMERGING MARKETS INVESTMENT TRUST PLC

                         STOCK EXCHANGE ANNOUNCEMENT OF
           UNAUDITED RESULTS FOR THE SIX MONTHS TO 31ST DECEMBER 2004


The Board today release the unaudited interim results of the Company for the six
months to 31st December 2004.

The following are comments from the Chairman:


Chairman's Interim Statement

I am pleased to report a continuation of the excellent results that we have seen
over the last eighteen months. Net assets improved by 24.1% over the 6 month
period as against a rise of 19.8% for our benchmark, the MSCI Emerging Markets
Free Index. The rise in share price was somewhat better at 26.6%, as the
discount to net asset value narrowed from 16.2% to 14.5%.

In general, investor confidence in emerging market economies has been strong
over the first half of the financial year, and the Manager has shown good
judgment in both asset allocation and stock selection. Over the coming six
months we should expect some levelling off, but I believe the general upward
trend in the net asset value should be maintained.

There is now an increasing acceptance of the view that worldwide more and more
of the better investment opportunities will become linked to the growth of
countries such as China, India, Brazil and Turkey. With the in-depth country
knowledge of JPMorgan Fleming and the flexibility to switch investments across
emerging markets, I am confident your Company continues to remain well placed
for the longer term.



Roy Reynolds
Chairman, 4th February 2005



For further information, please contact:

Philip Jones
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 6000
Secretary to the Company





JPMorgan Fleming Emerging Markets Investment Trust plc
Unaudited figures for the six months ended 31 December 2004
Statement of Total Return (Unaudited)

                          Six months to 31 December 2004  Six months to 31 December 2003     Year to 30 June 2004
                            Revenue     Capital     Total   Revenue   Capital      Total   Revenue   Capital     Total
                              £'000       £'000     £'000     £'000     £'000      £'000     £'000     £'000     £'000

Realised (losses) / gains
on investments                    -       (721)     (721)         -     1,772      1,772         -     6,359     6,359
Unrealised gains on
investments                       -      36,285    36,285         -    23,168     23,168         -    25,330    25,330
Currency losses on cash
and short-term deposits
held during the period            -       (204)     (204)         -     (243)      (243)         -     (285)     (285)
Other capital charges             -        (55)      (55)         -       (7)        (7)         -      (12)      (12)
UK dividends                     27           -        27        42         -         42       113         -       113
Overseas dividends            2,231           -     2,231     2,081         -      2,081     4,108         -     4,108
Scrip dividends                 111           -       111       172         -        172       225         -       225
Deposit interest                 49           -        49         9         -          9        23         -        23
Stock lending                    26           -        26         2         -          2         5         -         5
                            _______    ________   _______    ______   _______   ________   _______   _______   _______

Gross return                  2,444      35,305    37,749     2,306    24,690     26,996     4,474    31,392    35,866
Management fee                (837)           -     (837)     (635)         -      (635)   (1,385)         -   (1,385)
Other administrative
expenses                      (262)           -     (262)     (210)         -      (210)     (471)         -     (471)
Performance fee                   -       (802)     (802)         -         -          -         -   (1,119)   (1,119)
Interest payable                  -           -         -       (1)         -        (1)       (2)         -       (2)
                            _______     _______   _______    ______   _______    _______   _______   _______   _______

Net return before             1,345      34,503    35,848     1,460    24,690     26,150     2,616    30,273    32,889
taxation
Taxation                      (152)           -     (152)     (324)         -      (324)     (390)         -     (390)
                             ______     _______   _______    ______   _______     ______   _______   _______   _______

Transfer to reserves          1,193      34,503    35,696     1,136    24,690     25,826     2,226    30,273    32,499
                             ______     _______   _______    ______   _______    _______    ______   _______    ______

Return per ordinary share     1.32p      38.25p    39.57p     1.26p    27.37p     28.63p     2.47p    33.56p    36.03p






JPMorgan Fleming Emerging Markets Investment Trust plc
Unaudited figures for the six months ended 31 December 2004


BALANCE SHEET                                                        31 December     31 December         30 June
                                                                            2004            2003            2004
                                                                           £'000           £'000           £'000

Investments at valuation                                                 181,640         141,412         142,071

Net current assets                                                         2,411             270           6,284
                                                                         _______         _______         _______
Total net assets                                                         184,051         141,682         148,355
                                                                         =======         =======         =======
Net asset value per share                                                 204.1p          157.1p          164.5p


CASH FLOW STATEMENT
                                                                            2004            2003            2004
                                                                           £'000           £'000           £'000

Net cash (outflow)/inflow from operating activities                        (236)             889           1,915

Net cash outflow from returns on investments and servicing
of finance                                                                     -             (1)             (2)

Net cash (outflow)/inflow from capital expenditure and
financial investment                                                     (4,123)           (591)           5,608

Net cash outflow from financing                                                -         (2,967)         (2,967)
                                                                         _______          ______          ______
(Decrease)/increase in cash for the period                               (4,359)         (2,670)           4,554
                                                                         =======         =======         =======



The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30 June 2004 have been delivered to the Registrar of Companies.


J.P. MORGAN FLEMING ASSET MANAGEMENT (UK) LIMITED
4th February 2005




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