Ten Largest Investments

JPMorgan Flem Russian Secs PLC
3 February 2004


Jan-04

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


Ten Largest Investments
JPMorgan Fleming Russian Securities

Surgutneftegas                                               15.6
Lukoil                                                       14.6
JSC Mmc Norilsk                                              13.3
Sberbank                                                     10.2
Gazprom                                                       7.5
Mobil Telesystems                                             6.1
Yukos                                                         5.6
Vimpel Communications                                         5.6
Rao Unified Energy System                                     5.1
Rostelecom                                                    3.3
                                                             86.9


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