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JP Morgan Flem Inc (JPI)

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Wednesday 14 December, 2005

JP Morgan Flem Inc

Directorate Change

JP Morgan Flem Income & Capital Inv
14 December 2005

                          STOCK EXCHANGE ANNOUNCEMENT


14th December 2005

Board appointments

The Board of JPMorgan Fleming Income & Capital Investment Trust plc is pleased
to announce the appointment of Mr Richard Hills and Mr James West as
non-executive Directors, with immediate effect.  These appointments maintain the
strength and expertise of the Board given expected retirements over the next two

Mr Hills has considerable investment experience both in conventional and
alternative investments. He was the founder and managing director of Argyll
Investment Management Limited. This company managed a number of portfolios of
hedge funds and other segregated client accounts and was subsequently sold to
Progressive Alternative Investments Limited. He was formerly a director of
Henderson Administration Limited where he headed the Henderson Specialist Funds
Unit before leaving to form a joint venture with Aberdeen Trust plc where he
headed the UK investment arm and chaired the Investment Strategy Committee.  He
is also currently a non-executive director of Aberdeen New Dawn Investment Trust
plc, European Masters Fund Ltd and Gartmore Global Trust plc. Mr Hills's
investment management experience will be of great benefit to the Board.

Mr West has worked as a professional independent director of public and private
companies, with a strong bias towards investment trusts.  He has a wealth of
experience in most areas of corporate activity and structures and is chairman of
a split capital investment trust, Jupiter Second Enhanced Yield.  He was
formerly chief executive of Lazard Asset Management and managing director of
Globe Investment Trust. Mr West also holds a number of non-executive
directorships in several investment companies, including British Assets Trust
plc, Candover Investments plc and Gartmore Fledgling Trust plc.  Mr West's
considerable knowledge of investment practice will be a valuable resource for
the Company.

In accordance with paragraph 9.6.13 of the FSA Listing Rules a further
disclosure will be made within 5 business days.

For further information, please contact:

Lucy Sullivan, Company Secretary
JPMorgan Asset Management (UK) Limited - Secretary 020 7742 6000

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