Purchase of Own Securities

JPMorgan Fleming American IT PLC
29 May 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 Wednesday 28th
May in the market it purchased for cancellation the following:

25,000 ordinary shares at 482p per share representing a total of 0.04% of the
ordinary shares in issue;

The number of shares repurchased under the current authority now totals 100,000.

The remaining shares in issue following the above repurchases is 56,980,138.


29th May 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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