Transaction in Own Shares

JPMorgan Fleming Overseas IT PLC
15 October 2004


                          STOCK EXCHANGE ANNOUNCEMENT

                 JPMORGAN FLEMING OVERSEAS INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Overseas Investment Trust plc announces that on Thursday 14th
October 2004 in the market it purchased for cancellation the following:



420,000 ordinary shares at 404.5 pence per share representing a total of 0.6% of
the ordinary shares in issue.



The number of shares repurchased under the current authority now totals
1,190,000.



The remaining shares in issue, following the above repurchases, is 69,742,065.







15th October 2004







For further information, please contact:



Philip Jones

For and on behalf of

J.P. Morgan Fleming Asset Management (UK) Limited - Secretary

020 7742 6000





Tom Harris

Dresdner Kleinwort Wasserstein - Stockbrokers to the Company

020 7475 6685








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