Purchase of Own Securities

JPMorgan Fleming Eur Fldglng IT PLC
24 January 2003



                          STOCK EXCHANGE ANNOUNCEMENT


           JPMORGAN FLEMING EUROPEAN FLEDGELING INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION





JPMorgan Fleming European Fledgeling Investment Trust plc announces that
yesterday in the market they purchased for cancellation 600,000 ordinary shares
at 154p per share representing 1.07% of the ordinary shares in issue.



The number of shares repurchased under the current authority now totals
2,050,000.



The remaining shares in issue following this repurchase total 55,691,517.







24th January 2003





For further information, please contact:



Jonathan Latter  (Company Secretary)
J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3408


Nick Corke
Credit Lyonnais Securities Europe (UK) -
Stockbrokers to the Company, 020 7214 5576


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