Transaction in Own Shares

JPMorgan Fleming Claverhouse IT PLC
19 January 2005







                          STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

JPMorgan Fleming Claverhouse Investment Trust plc announces that on Tuesday
18th January 2005 in the market they purchased for cancellation 64,000 ordinary
shares at 380 pence per share representing 0.10% of the ordinary shares in
issue.


The current repurchase authority for 11,000,330 shares was approved by
shareholders on 29th April 2004.  To date 6,260,700 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase total 67,123,758.


19th January 2005



For further information, please contact:



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



Shamus Henderson
Cazenove Global Equities- Stockbrokers to the Company
0207 155 8122





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