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JPMorgan Flem Inc&Gw (JGIZ)

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Tuesday 10 October, 2006

JPMorgan Flem Inc&Gw

Portfolio Protection

JPMorganFleming Income&Growth ITPLC
10 October 2006


                       LONDON STOCK EXCHANGE ANNOUNCMEENT

             JPMORGAN FLEMING INCOME & GROWTH INVESTMENT TRUST PLC

                              PORTFOLIO PROTECTION

The Board of JPMorgan Fleming Income & Growth Investment Trust plc (the 'Company
') announces that the Company has purchased a number of FTSE 100 December 5875
Put Options  which have an underlying value of approximately £50 million at the
time of purchase and represent 26% of the Company's equity portfolio.

The cost of purchasing the Put Options has been met by the premia received from
the sale of a number of Call Options on stocks within the Company's portfolio.
The average upside appreciation for the call options is 5.2%.

Alan Cole, the Chairman of the Company, commented;

'The Board are mindful of the forthcoming winding up date for the Company and
believes a degree of protection for the existing equity portfolio is appropriate
at the current time.'

10 October 2006

Enquiries:

Craig Cleland, JPMorgan Asset Management (UK) Limited          020 7742 3418


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