Purchase of Own Securities

JPMorgan Fleming Eur Fldglng IT PLC
28 March 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, on
27th March 2003, in the market they purchased for cancellation 500,000 ordinary
shares at 145.5p per share representing 0.91% of the ordinary shares in issue.

The number of shares repurchased under the current authority now totals
3,025,000.

The remaining shares in issue following this repurchase total 54,716,517.


28th March 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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