Conversion of Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN EUROPEAN INVESTMENT TRUST PLC

CONVERSION OF SHARES

Legal Entity Identifier: 549300D8SPJFHBDGXS57

Information disclosed in accordance with DTR 9.6.4 (6)

The Board of JPMorgan European Investment Trust plc (the 'Company') announces that valid Conversion Notices have been received in respect of the following Shares (the 'Converting Shares'):

- 238,169 Growth Shares; and

- 379,801 Income Shares.

At 8.00 a.m. on 15th March 2017, the above Converting Shares will be converted into:

- 199,063 Growth Shares; and

- 450,252 Income Shares.

(the 'Resulting Shares')

Following the conversion, the total number of Shares in issue at 8.00 a.m. on 15th March 2017 will be:

- 77,387,840 Growth Shares; and

- 93,769,494 Income Shares.

The conversion calculations were based on the relative net asset values of the two share classes (net of accrued management expenses and applicable costs of conversion) as at close of business on 6th March 2017.

The resulting Conversion Ratios were:

- for every Converting Share which is a Growth Share, holders are entitled to 1.890474 Income Shares; and

- for every Converting Share which is an Income Share, holders are entitled to 0.524125 Growth Shares.

Individual Shareholders' entitlements on conversion will be rounded down to the nearest whole number of Shares. The Resulting Shares will rank pari passu with the existing Shares of the relevant class of Resulting Share.

The Resulting Shares have been allotted subject only to admission to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities ('Admission'). The relevant applications have been made and Admission is expected to occur at 8.00 a.m. on 15th March 2017. Dealings in such shares are expected to commence at 8.00 a.m. on 15th March 2017. It is anticipated that Certificates in respect of the Resulting Shares will be posted by 24th March 2017.

Terms used in this announcement shall, unless the context otherwise requires, bear the meaning given to them in the Company's articles of association.

10th March 2017

For and on behalf of

JPMorgan Funds Limited, Secretary

For further information, please contact: Paul Winship Tel. 020 7742 9815