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JP Morgan Flem Inc (JPI)

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Thursday 01 September, 2005

JP Morgan Flem Inc

Dividend Declaration

JP Morgan Flem Income & Capital Inv
01 September 2005


                       LONDON STOCK EXCHANGE ANNOUNCEMENT

             JPMORGAN FLEMING INCOME & CAPITAL INVESTMENT TRUST PLC

                    ANNOUNCEMENT OF SECOND INTERIM DIVIDEND


1st September 2005


INTERIM DIVIDEND


The Board of JPMorgan Fleming Income & Capital Investment Trust plc announces
that it has today declared a second quarterly interim dividend of 1.75 pence per
ordinary share for the year ending 28th February 2006, payable on 3rd October
2005 to shareholders on the register at the close of business on 9th September
2005.  This is subject to amendments being effected on 1st October 2005 to the
provisions of the Companies Act 1985 (the 'Act') by means of The Companies Act
1985 (Investment Companies and Accounting and Audit Amendments) Regulations 2005
(the 'Regulations').

The Regulations will permit the payment of dividends by the Company by providing
that amounts payable to shareholders are not treated as liabilities for the
purposes of section 265 of the Act (reversing the position which currently
applies to investment companies with limited lives for accounting periods
commencing on or after 1st January 2005, as a result of the implementation of
Financial Reporting Standard 25). Under section 265, an investment company may
make a distribution if, amongst other requirements, it has assets at least equal
to one and a half times the aggregate of its liabilities.


For further information:

Lucy Sullivan
JPMorgan Asset Management (UK) Limited - Secretary
Telephone: 020 7742 6000


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