Top 10 Largest Investments

JPMorgan Fleming Japanese Smllr Cos
1 November 2004


October-04
JPMorgan Fleming Investment Trust
Ten Largest Investments
in % of Total Assets.


Ten Largest Investments

JPMorgan Fleming Japanese Smaller Investment Trust

eAccess                                                                      3.7
Pacific Management                                                           3.3
ARRK                                                                         3.2
Uniden                                                                       2.4
Works Application                                                            2.4
Usen                                                                         2.3
Dodwell                                                                      2.2
FT Communications                                                            2.1
Faith                                                                        2.0
Kirin Beverage                                                               1.9
                                                                            25.5



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