Announcement re Manager

JPMorgan Japanese Inv. Trust PLC
12 November 2007

                       London Stock Exchange Announcement



                     JPMorgan Japanese Investment Trust plc



                       Change in Management Arrangements



                                12 November 2007



The Board of the JPMorgan Japanese Investment Trust plc ('the Company') has
recently conducted a thorough review of the investment management process being
pursued by the Company's Manager, JPMorgan Asset Management (UK) Limited. This
has been prompted by concerns that the Manager has failed to generate
outperformance of the Company's benchmark in recent years and most particularly
during the year to 30th September, 2007.



Following that review, it has been agreed with the Manager that there is a
requirement to improve and strengthen the investment management process and that
this would be best achieved by relocating the day-to-day management of the
portfolio assets from London to Tokyo. In future therefore the portfolio will be
managed by the JPMorgan Asset Management office in Tokyo by James Elliot and
Nicholas Weindling.



James Elliot is CIO of the Japan Portfolio Group in Tokyo. He rejoined the firm
in 2006 after working at RAB Capital plc as the Director of Europe Equities and
manager of the RAB Europe Long/Short Fund.  James first joined JPMorgan Asset
Management as a graduate trainee in 1995 and became a member of the European
equity team in 1996.  He became co-head of the European Equity Portfolios Group
in 2002.  James obtained B.A.(Hons) in modern history from Oxford University and
is a holder of the CFA designation.



Nicholas Weindling is currently a portfolio manager in the Japanese smaller
companies team with the Japan Portfolio Group in Tokyo. He joined the firm in
October 2006 after four years in the Japanese equity team at Baillie Gifford,
Edinburgh. Nicholas obtained a BA (Hons) history from Cambridge University.



The Board is aware of the need to achieve a material improvement in performance.
It believes that with the depth of resources devoted by JPMorgan Asset
Management to Japanese investment management and the Manager's longer term track
record, the changes announced above will benefit the Company.





For and on behalf of

JPMorgan Japanese Investment Trust plc



JPMorgan Asset Management - (UK) Limited - Secretary





David Barron:              0207 742 3475
Craig Cleland:             0207 742 3418


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