Transaction in Own Shares

JPMorgan Eur Fldglng Inv Trust PLC
07 September 2006

                          STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN EUROPEAN FLEDGELING INVESTMENT TRUST PLC

                           PURCHASE OF OWN SECURITIES


JPMorgan European Fledgeling Investment Trust plc announces that on Thursday 7th
September 2006 it purchased in the market, to hold in treasury, 81,000 ordinary
shares at 584.84 pence per share.

Following this repurchase the Company now holds a total of 1,769,319 shares in
treasury at an average size-weighted discount of 11.66%.

The number of shares in issue less the total number of treasury shares is
51,012,198.


7th September 2006


For further information, please contact:

Hilary Lowe
JPMorgan Asset Management (UK) Limited,
020 7742 6000



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