Purchase of Own Securities

JPMorgan Fleming American IT PLC
22 August 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 21
August in the market it purchased for cancellation 25,000 ordinary shares at
520p per share  representing a total of 0.4% 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 737,000 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase is 60,432,663


22nd August 2002



For further information, please contact:

Fraser Easton
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3477

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



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