Transaction in Own Shares

JPMorgan US Discovery IT PLC
12 March 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 258,000 ordinary shares at 830.00 pence per share
representing 2.55% 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 308,000 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase totals 9,851,480.






12th March 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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