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JPMorgan Flem.Claver (JCH)

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Tuesday 19 April, 2005

JPMorgan Flem.Claver

AGM Statement

JPMorgan Fleming Claverhouse IT PLC
19 April 2005

                         STOCK EXCHANGE ANNOUNCEMENT


Following the Annual General Meeting of the Company which was held today, the
Board are pleased to announce that resolutions 1 to 8 put to shareholders were
passed, including the following resolutions under special business which:

a)     will allow the Company to make market purchases of ordinary
       shares up to a maximum of 14.99% of the Company's current issued ordinary
       share capital (passed as a special resolution);

b)     will allow the Company to allot new ordinary shares up to an
       aggregate nominal amount representing approximately 10% of the Company's 
       current issued ordinary share capital (passed as an ordinary resolution);

c)     will allow the Company to disapply pre-emption rights on the
       allotment of new ordinary shares (passed as a special resolution).

Despite a clear majority of shareholders being in favour of the proposal to
re-issue shares held in treasury at a discount to net asset value, the majority
was insufficient to achieve the requisite 75% of those voting to carry a special
resolution.  Therefore, with the consent of the meeting, resolutions 9 and 10
were withdrawn.

Full details of the resolutions passed at the Annual General Meeting can be
found in the Annual Report and Accounts for the year ended 31st December 2004.

As outlined in the Annual Report & Accounts, at the conclusion of the Annual
General Meeting Robert Walther retired as Chairman and as a Director and is
succeeded as Chairman by Sir Michael Bunbury.  The Board wishes to thank Robert
for his valuable contribution to the Board.

19th April 2005

For further information, please contact:

Jonathan Latter (Company Secretary)

J.P. Morgan Fleming Asset Management (UK) Ltd .................. 020 7742 6000

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