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JP Morgan Overseas (JMO)

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Tuesday 30 October, 2007

JP Morgan Overseas

Interim Management Statement

JPMorgan Overseas IT PLC
30 October 2007


                     JPMorgan Overseas Investment Trust plc

                          Interim Management Statement

                 For the three months ended 30th September 2007


This interim management statement relates to the quarter from 1st July 2007 to
30th September 2007 and contains information that covers that period, unless
otherwise stated.


Financial performance - Cumulative Total Return *

                           1 month        3 months        1 Year        3 Years        5 Years
Share price                5.3%           1.3%            10.9%         69.0%          115.2%
Net asset value            4.7%           1.1%            10.9%         49.6%          92.1%
Benchmark                  3.7%           0.8%            11.0%         46.0%          86.4%



* total return with net dividends reinvested
Source: JPMAM/Fundamental Data



Financial position
                                                         As at 30th June        As at 30th September
                                                               2007                    2007
Net assets (£000)                                             207,743                 201,814
Net asset value per share                                      653.1p                  679.0p
Share  price                                                   622.0p                  642.0p
Discount                                                       -5.6%                   -5.4%
Gearing                                                         100%                    101%



Share prices shown are closing mid

Net asset value assumes that shares held in treasury have been reissued at the
previous night's closing price.

Source: JPMAM/Fundamental Data



Material transactions



Changes to share capital


                                           Issued Shares

As at 30th June 2007                       30,489,448
Shares bought back and cancelled           766,500
Shares bought back into Treasury           -
Shares cancelled from Treasury             -
Shares issued                              -
As at 30th September 2007                  29,722,948



During the quarter, the Company made market purchases of 766,500 shares for
cancellation, representing 2.3% of the shares outstanding at the beginning of
the financial year, at an average discount of 5.99%.



Portfolio Analyses



Ten largest holdings as at 30th September 2007*



Growth


Stock name                                   Sector                     Weight %

JPMorgan Emerging Markets Inv Trust          Financials                      3.1
Nokia                                        Information Technology          2.1
Total                                        Energy                          2.1
Cisco Systems                                Information Technology          2.1
Mitsubishi                                   Industrials                     2.0
El Paso                                      Energy                          2.0
Banco Bilbao                                 Financials                      1.9
Merck & Co                                   Health Care                     1.7
Corning                                      Information   Technology        1.6
Procter & Gamble                             Consumer Staples                1.6


* Excluding liquidity fund holdings which are held as an alternative to cash.



Portfolio analysis as at 30th September 2007


Sector                                                Portfolio %

Financials                                            29.0
Information Technology                                16.8
Industrials                                           13.2
Energy                                                10.2
Consumer Staples                                      8.7
Health Care                                           7.3
Consumer Discretionary                                6.2
Materials                                             6.0
Telecommunication Services                            3.2
Utilities                                             1.0
Cash                                                  -1.6
Total                                                 100.00





Geographical                                          Portfolio %

North America                                         39.1
Continental Europe                                    30.4
Japan                                                 10.6
United Kingdom                                        9.7
Emerging Markets                                      8.1
Developed Asia                                        3.7
Cash                                                  -1.6
Total                                                 100.00



By order of the Board
Philip Jones, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
30th October 2007



Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ
Telephone: 020 7742 6000



This interim management statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.



Please note that up to date information on the Company, including daily NAV and
share prices, factsheets and portfolio information can be found at
www.jpmoverseas.co.uk


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