AGM Statement

JPMorgan Fleming US Disc IT PLC
11 May 2004



                            STOCK EXCHANGE ANNOUNCEMENT


                JPMORGAN FLEMING US DISCOVERY INVESTMENT TRUST PLC


Following the Annual General Meeting of the Company, which was held today, the
Board is pleased to announce that all of the resolutions put to shareholders
were passed, including a Special Resolution which will allow the Company to make
market purchases of up to 1,673,555 ordinary shares, representing 14.99% of the
Company's issued share capital.



Full details of all resolutions passed at the Annual General Meeting can be
found in the Annual Report and Accounts for the year ended 31st December 2003.



As outlined in the Annual Report & Accounts, at the conclusion of the Annual
General Meeting Jeremy Leigh Pemberton stepped down as Chairman and as a
Director and was immediately succeeded as Chairman by The Right Hon Robin Lewis.
The Board wishes to thank Mr Leigh Pemberton for his valuable contribution to
the Board.









11th May 2004




For further information, please contact:





Richard Lewis

For and on behalf of

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

020 7742 6000






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