Purchase of Own Securities

JPMorgan Fleming US Disc IT PLC
09 May 2003




                          STOCK EXCHANGE ANNOUNCEMENT


               JPMORGAN FLEMING US DISCOVERY INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming US Discovery Investment Trust plc announces that on Thursday
8th May in the market it purchased for cancellation 200,000 ordinary shares at
435.5p per share representing a total of 1.76% of the ordinary shares in issue.

The current repurchase authority for 1,765,744 shares was approved by
shareholders on 15 May 2002.  To date 615,000 shares have been repurchased under
this authority.

The remaining shares in issue following this repurchase is 11,164,480.


9th May 2003


For further information, please contact:

Richard Lewis
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3477

Les Hart
Winterflood Securities Limited - Stockbrokers to the Company
020 7621 5581


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