Strategic Review - Update

JPMorgan Fleming Overseas IT PLC
30 November 2005



                 JPMORGAN FLEMING OVERSEAS INVESTMENT TRUST PLC

                       LONDON STOCK EXCHANGE ANNOUNCEMENT


Strategic Review - Update

The Board of JPMorgan Fleming Overseas Investment Trust PLC (the 'Company')
announced on 25th October that it was commencing a strategic review that would
consider all the options available for the future of the Company, including the
possibility of providing shareholders with the opportunity to realise some or
all of their investment at close to net asset value. The Board undertook to
provide shareholders with an update on the progress of this review at the
Company's Annual General Meeting held today.

The Board has solicited the views of a number of shareholders and this
consultation continues. It is clear from the consultations to date that there is
demand for a continuing investment trust to be managed by JPMorgan Asset
Management with a more explicit discount control policy. There are also certain
shareholders who do not wish to continue with their investment and are seeking
an opportunity to realise their shares for cash. The Board has decided to offer
shareholders a cash exit and is taking advice on the most appropriate mechanism
for doing so, taking into account the interests of all shareholders.  A further
announcement will be made shortly.



30th November 2005

JPMorgan Asset Management (UK) Limited - Secretary

For further information, please contact

Philip Jones - 020 7742 6000



George Paul
Chairman, JPMorgan Fleming Overseas Investment Trust plc - 020 7742 7214


                      This information is provided by RNS
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