EGM Statement

JP Morgan Fleming Indian IT PLC
25 February 2005

                          STOCK EXCHANGE ANNOUNCEMENT



                  JPMORGAN FLEMING INDIAN INVESTMENT TRUST PLC



                    NOTICE OF EXTRAORDINARY GENERAL MEETING





Notice of Extraordinary General Meetingtc 'Introduction' /f C /l 2

The Board of JPMorgan Fleming Indian today gave notice to shareholders,
convening an Extraordinary General Meeting of the Company to be held at 10 a.m.
on 22 March 2005 at 10 Aldermanbury, London EC2V 7RF.



The Board intends to seek shareholder authority (the 'Authority') to issue up to
9,021,136 new shares, with an aggregate nominal value of £2,255,284
(representing approximately 10 per cent. of the total ordinary share capital in
issue as at 24 February 2005).




Reasons for seeking the Authority

Since the Company's launch in 1994, the Company's Shares have typically traded
at a discount to their Net Asset Value. Over the past two years, this discount
has narrowed considerably and, since April 2004, the Shares have moved to trade
regularly at a premium to their Net Asset Value. This has enabled the Directors
to use the authority to issue new Shares for cash, conferred on them by
Shareholders at the annual general meeting in January 2004. This authority gave
the Directors power to allot up to 6,714,476 Shares, other than by a pro rata
issue to existing Shareholders, for cash.

The issue of new Shares to date has raised approximately £9.5 million for the
Company and the existing authority has now been substantially utilised. The
Directors are of the opinion that continued regular demand for the Company's
Shares, barring any unforseen downturn in sentiment toward the Indian market,
would continue to exert an upward pressure on the premium at which the Shares
trade. The Directors consider that it is in the best interests of Shareholders
as a whole that the price of the Shares reflects, as closely as possible, the
value of the underlying investments in India.



Advantages of the Authority

The effects of the Authority described below are based on the issue of New
Shares at a premium to the Net Asset Value of the existing Shares prevailing on
the relevant Calculation Date. The advantages of the Authority for existing
Shareholders are expected to be as follows:



•        an increase in the number of Shares in issue, which should broaden the
Shareholder base and improve the liquidity of the Shares;

•        an increase in the size of the Company which will result in the
Company's costs being spread over a greater number of Shares. As a result, the
Company's total expense ratio may be reduced; and

•        a modest increase in the NAV per Share attributable to the enlarged
issued share capital immediately following the issue. New Shares will only be
issued at a premium which, after payment of the costs of the issue and the costs
of investing the proceeds of the issue, should produce such an increase.

tc 'Advantages of the Authority' /f C /l 2

Resolutionstc 'Extraordinary General Meeting' /f C /l 2

The Authority is conditional on the resolutions set out in the notice of the
Extraordinary General Meeting being approved by shareholders. The resolutions
will, if passed:

(a)          grant the Directors authority under Section 80 of the Companies Act
1985 to allot up to 9,021,136 new shares with an aggregate nominal value of
£2,255,284 representing approximately 10 per cent. of the total shares in issue
as at 24 February 2005. This authority will expire on 22 March 2010;

(b)          authorise the Directors to allot securities other than in
accordance with the pre-emption provisions of section 89 of the Companies Act
1985.






25th February 2005

J.P. Morgan Fleming Asset Management (UK) Limited - Secretary



For further information, please contact:

Richard Lewis - 020 7742 3477






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