Transaction in Own Shares

JPMorgan US Discovery IT PLC
31 December 2007



                       LONDON STOCK EXCHANGE ANNOUNCEMENT


                   JPMORGAN US DISCOVERY INVESTMENT TRUST PLC


                     REPURCHASE OF SHARES FOR CANCELLATION



JPMorgan US Discovery Investment Trust plc has today purchased 25,000 shares for
cancellation at 748.45.00 pence per share.



Following the transaction the remaining shares in issue total 8,391,480
including 541,000 held in treasury at a weighted average discount of 8.96%.






31st December 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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