Investment Policy

JP Morgan Fleming Indian IT PLC
20 October 2003

                          STOCK EXCHANGE ANNOUNCEMENT


                  JPMORGAN FLEMING INDIAN INVESTMENT TRUST PLC



                       ANNOUNCEMENT OF INVESTMENT POLICY







Following the publication by The Financial Services Authority of the Investment
Entities (Listing Rules and Conduct of Business) Instrument 2003, the Board of
JPMorgan Fleming Indian Investment Trust plc (the 'Company') notes and announces
that it is the Company's policy to invest no more than 15% of its gross assets
in other listed investment companies (including listed investment trusts).











20th October 2003





For further information, please contact:



Fraser Easton,

For and on behalf of

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

Telephone [phone]






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