Geographical Distribution

JPMorgan Fleming Japanese Smllr Cos
12 May 2004



                    JPMORGAN FLEMING INVESTMENT TRUST        
                GEOGRAPHICAL BREAKDOWNS % OF TOTAL ASSETS 
                         AS AT 30th April 2004


        JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                        %
Japan                                                                99.7
Cash                                                                  0.3
                                                                      100



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