Transaction in Own Shares

JPMorgan Eur Fldglng Inv Trust PLC
24 May 2007



                          STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN EUROPEAN FLEDGELING INVESTMENT TRUST PLC

                           PURCHASE OF OWN SECURITIES


JPMorgan European Fledgeling Investment Trust plc announces that today in the
market it purchased in the market, to hold in treasury, 140,000 ordinary shares
at 828.0 pence per share.

Following this repurchase the Company now holds a total of 1,571,319 shares in
treasury at an average size-weighted discount of 10.87%.

The number of shares in issue less the total number of treasury shares is
51,210,198.




24th May 2007


For further information, please contact:

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




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