Purchase of Own Securities

JPMorgan Fleming American IT PLC
28 February 2003


                          STOCK EXCHANGE ANNOUNCEMENT


                 JPMORGAN FLEMING AMERICAN INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming American Investment Trust plc announces that on Thursday 27th
February in the market it purchased for cancellation 50,000 ordinary shares at
433p per share representing a total of 0.09% 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 2,803,500 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase is 58,366,163.


28 February 2003


For further information, please contact:


Hilary Lowe

For and on behalf of

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

020 7742 3274



Tod Davis

Cazenove & Co - Stockbrokers to the Company

020 7214 7507



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