JPMORGAN ELECT PLC

Conversion of Shares

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

-     60,433 Managed Income Shares.

At 8.00 a.m. on 1^st September 2014, the above Converting Shares will be converted into:

-     2,255 Managed Growth Shares; and

-     47,288 Managed Cash Shares.

Following the conversion (and the redemption of 118,209 Managed Cash shares - see below), the total number of Shares in issue at 8.00 a.m. on 1^st September 2014 will be (assuming no share buybacks and issuances between the date of this announcement and 1^st September 2014):

-     37,407,799 Managed Growth Shares;

-     51,413,831 Managed Income Shares; and

-     4,322,483 Managed Cash Shares.

The conversion calculations were based on the relative net asset values of the three share classes (net of accrued management expenses and applicable costs of conversion) as at close of business on 20th August 2014.

The resulting Conversion Ratios were:

-     for every Converting Share which is a Managed Growth Share, holders are entitled to 5.517834 Managed Income Shares or 5.517289 Managed Cash Shares;

-     For every Converting Share which is a Managed Income Share, holders are entitled to 0.178634 Managed Growth Shares or 0.989034 Managed Cash Shares; and

-     For every Converting Share which is a Managed Cash Share, holders are entitled to 0.181248 Managed Growth Shares or 1.000099 Managed Income 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 Company has applied for the Resulting Shares to be admitted to the Official List and to trading on the London Stock Exchange. Dealings in such shares are expected to commence at 8.00 a.m. on 1^st September 2014.  It is anticipated that Certificates in respect of the Resulting Shares will be posted by 10^th September 2014.

Repurchase of Managed Cash Shares

The Board of JPMorgan Elect plc (the 'Company') announces that valid Share Repurchase Notices have been received in respect of 118,209 Managed Cash Shares in connection with the 1^st September 2014 Repurchase Date.

The repurchase price of 100.71 pence per Managed Cash Share is based on a net asset value per Managed Cash Share of 101.22 pence as at close of business on 20th August 2014. A deduction of 0.5% has been made in respect of the stamp duty payable by the Company on the repurchase.

The number of Managed Cash Shares in issue following the repurchase and the redemption (referred to above) will be 4,322,483.

It is anticipated that cheques, in respect of the Managed Cash Shares being repurchased, will be despatched on 10^th September 2014.

CREST holders will also receive payment on 10^th September 2014.

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

22^nd August 2014

For and on behalf of

JPMorgan Funds Limited, Secretary

For further information, please contact:

Rebecca Burtonwood                                                                                                        

Tel. 020 7742 4000