Purchase of Own Securities

JPMorgan Fleming American IT PLC
7 November 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 Wednesday 6
November in the market it purchased for cancellation 100,000 ordinary shares at
508p per share  representing a total of 0.17% 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 1,776,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase is 59,393,663.







7 November 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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