Top Ten Largest Investments

JPMorgan Fleming Eur Fldglng IT PLC
2 July 2004



                                                                              
  Jun-04                                                                      

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



  Ten Largest Investments                                                     
  JPMorgan Fleming European Fledgeling Investment Trust                       

  FF European Discovery Fund                                            13.7 
  Koniklijke Wessanen                                                    2.2  
  Nutreco Holding                                                        2.0  
  Gestevis Telecinco                                                     1.8  
  Omega Pharma                                                           1.8  
  Dis Deutscher                                                          1.6  
  Campari                                                                1.6  
  Geberit                                                                1.6 
  Yit-Yhtyma                                                             1.6 
  De Longhi                                                              1.6  
                                                                        29.5  


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