Transaction in Own Shares

JPMorgan US Discovery IT PLC
08 February 2007



                          STOCK EXCHANGE ANNOUNCEMENT


                   JPMORGAN US DISCOVERY INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan US Discovery Investment Trust plc announces that today in the market it
purchased for cancellation 50,000 ordinary shares at 825.00 pence per share
representing 0.49% of the ordinary shares in issue.



The current repurchase authority for 1,522,906 shares was approved by
shareholders on 27th April 2006.  To date 50,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase totals 10,109,480.






8th February 2007





For further information, please contact:



Lucy Dina
JPMorgan Asset Management (UK) Limited - Secretary
020 7742 6000



Paul Palmer
Cenkos Securities plc - Stockbrokers to the Company
0207 3971 915




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