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JP Morgan Fleming (JMO)

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Tuesday 25 October, 2005

JP Morgan Fleming

Board Announcement

JPMorgan Fleming Overseas IT PLC
25 October 2005



                               BOARD ANNOUNCEMENT

The Board of JPMorgan Fleming Overseas Investment Trust PLC (the 'Company') has
noted the significant change in the composition of the Company's shareholder
register, including the declaration of an 18.2% holding by Carrousel Capital
Limited. In addition, the Company's discount to NAV at which its shares trade
has narrowed from a twelve month average of 12.1% to a current level of 5.7%.

In light of the above, the Board has decided to undertake a strategic review
which will consider all the options available for the future of the Company,
including the possibility of providing shareholders with the opportunity to
realise some or all of their investment at close to net asset value.  This
review will take account of the requirements of all shareholders, including the
fact that a significant proportion of the Company's issued share capital is held
by retail fund managers and directly by private investors, both in the UK and
New Zealand.  The Board will provide shareholders with an update on the progress
of the strategic review at the Company's Annual General Meeting on Wednesday
30th November 2005.

25th October 2005

JPMorgan Asset Management (UK) Limited - Secretary

For further information, please contact
Philip Jones - 020 7742 6000

                      This information is provided by RNS
            The company news service from the London Stock Exchange