Geographical Distribution

JPMorgan Flem Russian Secs PLC
2 February 2005


January-05
JPMorgan Fleming Investment Trust
Ten Largest Investments
in % of Total Assets.


Ten Largest Investments
JPMorgan Fleming Russian Securities
Vimpel Communications ADR                                        13.9
JSC MMC Norilsk Nickel                                           13.8
Lukoil ADR                                                       13.4
Gazprom ADS                                                      12.6
Surgutneftegaz ADR                                               12.3
Sberbank Rossii                                                   9.8
Mobile Telesystems ADS                                            7.9
RAO Unified Energy                                                7.0
RBC information                                                   3.9
OAO Pharmacy                                                      3.2
                                                                 97.8


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