10 Largest Equity Investments

JPMorgan Fleming Japanese IT PLC
2 June 2004


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


Ten Largest Investments
JPMorgan Fleming Japanese Investment Trust
Honda Motor                                                  3.5
Toyota Motor                                                 3.5
Matsui Securities                                            3.5
Canon                                                        3.3
Sumitomo Trust & Banking                                     3.0
Sumitomo Mitsui Financial                                    2.9
Mizuho Financial                                             2.7
Mitsui Fudosan                                               2.5
Fanuc                                                        2.4
Mitsubishi Heavy Industries                                  2.4
                                                            29.7



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