Transaction in Own Shares

JPMorgan Fleming Eur Fldglng IT PLC
06 May 2005


                          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 today
in the market they purchased for cancellation 350,000 ordinary shares at 347p
per share representing 0.66% of the ordinary shares in issue.

The number of shares repurchased under the current authority now totals
1,735,000.

The remaining shares in issue following this repurchase total 52,781,517.


6th May 2005


For further information, please contact:

Hilary Lowe  (Company Secretary)
JPMorgan Asset Management (UK) Limited, 020 7742 3408

Chris Agar - 020 7377 1453
UBS Investment Bank (Stockbrokers to the Company)



                      This information is provided by RNS
            The company news service from the London Stock Exchange