Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
29 March 2004




                          STOCK EXCHANGE ANNOUNCEMENT


               JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Claverhouse Investment Trust plc announces that on the 26th
March 2004 in the market they purchased for cancellation 40,000 ordinary shares
at 330 per share representing 0.05% of the ordinary shares in issue.

The current repurchase authority for 11,330,784 shares was approved by
shareholders on 25th April 2003.  To date 1,674,500 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase total 73,914,458.


29th March 2004



For further information, please contact:



Jonathan Latter

J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 6000





Tom Harris

Cazenove Global Equities- Stockbrokers to the Company

0207 155 8122








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