Transaction in Own Shares

JPMorgan Eur Fldglng Inv Trust PLC
12 October 2007

                          STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN EUROPEAN FLEDGELING INVESTMENT TRUST PLC

                                 TREASURY STOCK


JPMorgan European Fledgeling Investment Trust plc has today purchased into
treasury 25,385 ordinary shares at 772.38 pence per share.

Following the transaction the remaining shares in issue less the total number of
treasury shares is 50,740,313 of which the number of shares held in treasury
represent 7.15%.

12th October 2007


For further information, please contact:

Jonathan Latter
JPMorgan Asset Management (UK) Limited,
020 7742 6000






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