Unaudited 6-Month Rslts-Amend

JP Morgan Fleming Asian Inv Tst PLC
13 May 2002


The issuer has made the following amendments to the Unaudited 6-Month Results
released on 9 May at 17.10 under RNS No 7238V

The announcement contained a typographical change which has been identified with
an asterisk.

The full corrected version is shown below



                  JPMorgan Fleming Asian Investment Trust Plc.


                          Stock Exchange Announcement


         Unaudited Results for the six month period to 31st March 2002


                              Chairman's Statement*



Performance



For the six months to the 31st March 2002, the total return on the Company's
diluted net assets rose by 47.2%* versus a rise in the benchmark index, the
Morgan Stanley Composit Free Asia Index ex Japan in sterling terms, of 49.3%.
The underperformance came mainly in the fourth quarter of 2001 as the Company
restructured its portfolio from a defensive to a more aggressive stance.  A cash
holding of about 10% helped to diminish the impact of the market's immediate
reaction to the September terrorist attacks.  However, it also meant that the
portfolio was not well placed when the market turned on 21st September and
rebounded strongly in October to December 2001.  The Company continues to
outperform its benchmark over the longer term.



Market Review



In the fourth quarter of 2001 the aggressive easing of interest rates by Central
banks greatly benefited Asian markets as they were perceived to be most likely
to benefit from world growth.  Valuations, which fell as a result of the Asian
crisis, were further lowered by the September terrorist attacks in the US,
making the fundamental investment case more persuasive.  This attracted
investors into the market, resulting in the benchmark index bouncing 30.3%.



However, the only markets to outperform the benchmark in this quarter were Korea
and Taiwan, gaining 57.6% and 54.6% respectively.  These technology heavy
markets rose on the back of strong US consumption, combined with certain new
technology offerings such as the X-Box and Game Cube.  Despite question marks
over the sustainability of strong global demand, confidence was restored in
Taiwan's outsourcing model and its ability to gain market share in a price
competitive world.  Korea's advance was more broadly based on the back of
stronger domestic consumption and rising corporate profitability.



Elsewhere, China's accession to the WTO in November led to a modest rise in its
B-share market for foreign investors, although regulatory concerns led to a
market drop in A-shares.  Stronger home sales in Hong Kong and an important
export outlook for Singapore led to gains in excess of 20%.



The first quarter of 2002 was a different picture, however.  The smaller markets
which had underperfomed in the previous quarter, produced stellar performances.
Indonesia, Thailand and the Philippines recording gains of 41.7%, 30.4% and
23.2% respectively.  In Indonesia, the successful sale of Bank Central Asia to
Farallon was seen as a milestone for IBRA's asset sale programme.  The Paris
Club negotiations, involving a rescheduling of Indonesia's sovereign debts,
helped to ease shorter term constraints.  Thailand continued to see strong
retail interest as domestic investors shifted out of low yielding deposits into
equities.  Foreign investors were also encouraged by the reversal of capital
flows and strengthening domestic consumption.  Even the Philippines rebounded as
its sovereign risk rating improved.  Of the larger markets, Korea continued to
surge ahead on the back of gathering momentum in its domestic economy.  Hong
Kong, China Taiwan and India were relative underperformers.  Overall the
benchmark index gained 13.7% over the first quarter of 2002.



Outlook



The outlook for Asia is positive both on a relative and absolute basis.
Compared to valuations in the United States, Asian markets are trading at about
half the valuations in Price Earnings Ratio and Price to Book Ratio, but
generating similar levels of returns on equity.  Some asset allocation switch
towards Asia is thus likely.  Global liquidity remains ample, and growth
prospects have improved from six months ago.  Although the US Federal Reserve is
likely to raise interest rates in the second half of this calendar year, we
believe that earnings growth will still support higher equity markets in Asia.
Growth in Asia is not entirely dependant on Global demand, but on a broader
based resumption in domestic demand  and inter-regional trade.  It is not
unusual for markets to take a breather after such impressive gains, especially
as the usually quieter summer months approach.  The investment manager has,
however, indicated that this would be viewed as a buying opportunity.





*All figures given in the statement are in sterling terms.
JPMorgan Fleming Asian Investment Trust plc

Unaudited figures for the six months ended 31 March 2002



Statement of Total Return (Unaudited)


                        Six months to 31 March 2002    Six months to 31 March 2001    Year to 30 September 2001

                          Revenue   Capital     Total   Revenue   Capital     Total Revenue     Capital     Total
                            £'000     £'000     £'000     £'000     £'000     £'000     £'000     £'000     £'000


Realised gains/(losses)         -    12,722    12,722         -   (7,478)   (7,478)         -  (27,494)  (27,494)
on investments
Net change in                   -    43,926    43,926         -  (21,026)  (21,026)         -  (34,420)  (34,420)
unrealised appreciation
Net losses on currency
transactions                    -     (121)     (121)         -     (221)     (221)         -     (942)     (942)
Other capital items             -      (25)      (25)         -        36        36         -         -         -
Unrealised gain on
currency hedge                  -         -         -         -         -         -         -       127       127
Franked investment              -         -         -        41         -        41        41         -        41
income
Overseas dividends          1,239         -     1,239     1,110         -     1,110     2,620         -     2,620
Scrip dividends                 -         -         -         -         -         -       164         -       164
Deposit interest               95         -        95       553         -       553       880         -       880
Stock lending                   1         -         1         1         -         1         -         -         -

                          _______  ________   _______    ______   _______   _______   _______   _______   _______

Gross return                1,335    56,502    57,837     1,705  (28,689)  (26,984)     3,705  (62,729) (59,024)

Management fee              (517)         -     (517)     (663)         -     (663)   (1,212)         -   (1,212)

Other administrative
expenses                    (163)         -     (163)     (157)         -     (157)     (361)         -     (361)
Interest payable            (300)         -     (300)   (1,013)         -   (1,013)   (1,558)         -   (1,558)

                          _______   _______   _______   _______   _______   _______   _______   _______   _______

Return before taxation        355    56,502    56,857     (128)  (28,689)  (28,817)       574  (62,729)  (62,155)

Taxation                     (61)         -      (61)      (43)         -      (43)     (218)         -     (218)

                           ______   _______   _______    ______   _______   _______   _______   _______   _______

Return attributable to
ordinary shareholders         294    56,502    56,796     (171)  (28,689)  (28,860)       356  (62,729)  (62,373)
                            =====     =====     =====     =====     =====     =====     =====     =====     =====

Return per ordinary         0.18p    34.66p    34.84p   (0.10)p  (17.53)p  (17.63)p     0.22p  (38.34)p  (38.12)p
share

Dividend per ordinary         Nil                           Nil                           Nil
share




JPMorgan Fleming Asian Investment Trust plc

Unaudited figures for the six months ended 31st March 2002


Balance Sheet                                                         31 March           31 March   30 September
                                                                          2002               2001           2001
                                                                         £'000              £'000          £'000

Investments at valuation                                               182,158            148,611        110,451


Net current (liabilities)/assets                                       (5,782)             35,762         10,375


Fixed loan                                                                   -           (30,000)              -

                                                                        ______            _______        _______

Total net assets                                                       176,376            154,373        120,826
                                                                         =====              =====          =====
Diluted Net asset value per ordinary share                              108.8p              94.3p          73.9p


Cash Flow Statement
                                                                 Six months to      Six months to        Year to
                                                                      31 March           31 March   30 September
                                                                          2002               2001           2001
                                                                         £'000              £'000          £'000

Net cash inflow from operating activities                                  545                651          1,842

Net cash outflow from returns on investments and servicing               (270)            (1,286)        (2,075)
of finance

Total tax recovered/(paid)                                                 180                  -           (12)

Net cash (outflow)/inflow from capital expenditure and
financial investment                                                  (18,358)             14,986         23,259

Net cash (outflow)/inflow from financing                              (26,639)                  3       (30,031)
                                                                       _______             ______         ______
(Decrease) / Increase  in cash for the period                         (44,542)             14,354        (7,017)
                                                                         =====               ====           ====



The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30 September 2001 have been delivered to the Registrar of Companies.



J.P. MORGAN FLEMING  ASSET MANAGEMENT (UK) LIMITED

9 May 2002



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