Purchase of Own Securities

JPMorgan Fleming American IT PLC
3 July 2002


                          STOCK EXCHANGE ANNOUNCEMENT


                 JPMORGAN FLEMING AMERICAN INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming American Investment Trust plc announces that on Tuesday 2 July
in the market it purchased for cancellation 30,000 ordinary shares at 546p per
share  representing a total of 0.05% of the ordinary shares in issue.

The current repurchase authority for 9,139,960 shares was approved by
shareholders on 25 April 2002.  To date 247,000 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase is 60,922,663


2nd July 2002



For further information, please contact:



Fraser Easton
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3425



Peter Sheen
Cazenove & Co - Stockbrokers to the Company
020 7214 7507



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