AGM Statement

JPMorgan Flem Russian Secs PLC
23 February 2005



                         STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING RUSSIAN SECURITIES PLC

Following the Annual General Meeting of the Company, which was held today,
Wednesday 23rd February 2005, the Board is pleased to announce that all the
resolutions put to shareholders were passed, including a special resolution
which

will allow the Company to make market purchases of ordinary shares up to a
maximum number of 8,418,806 which is equal to 14.99% of the Company's issued
ordinary share capital.


23rd February 2005



For further information, please contact:


Richard Lewis (Company Secretary)
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 6000




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