Purchase of Own Securities

JPMorgan Fleming American IT PLC
02 June 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 Friday 30th May
in the market it purchased for cancellation the following:

50,000 ordinary shares at 485p per share representing a total of 0.09% of the
ordinary shares in issue;

The number of shares repurchased under the current authority now totals 150,000.

The remaining shares in issue following the above repurchases is 56,930,138.



2nd June 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 7155 8121








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