Transaction in Own Shares

JPMorgan Fleming US Disc IT PLC
05 August 2004

The following replaces the 'Transaction in Own Shares' announcement released on
4th August 2004 at 17:24 hrs under RNS: 6420B.

The share price at which the JPMorgan Fleming US Discovery Investment Trust plc
ordinary shares were bought back should be 553p instead of 533p.

All other details remain unchanged.  The full amended text appears below.



                          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 Tuesday 3rd
August 2004 in the market it purchased for cancellation 825,000 ordinary shares
at 553p per share representing a total of 7.39% of the ordinary shares in issue.

The current repurchase authority for 1,673,555 shares was approved by
shareholders on 11th May 2004.  To date 825,000 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase is 10,339,480.



4th August 2004




For further information, please contact:

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

Nathan Brown
Winterflood Securities Limited - Stockbrokers to the Company
020 7621 5572


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