Purchase of Own Securities

JPMorgan Fleming American IT PLC
28 March 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
March in the market it purchased for cancellation the following:



150,000 ordinary shares at 458p per share representing a total of 0.26% of the
ordinary shares in issue;



90,000 ordinary shares at 455p per share representing a total of 0.16% of the
ordinary shares in issue;



25,000 ordinary shares at 453p per share representing a total of 0.04% of the
ordinary shares in issue;



100,000 ordinary shares at 453p 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 3,825,100 shares have been repurchased
under this authority.



The remaining shares in issue following the above repurchases is 57344563.







28th March 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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