Asset Analysis

JPMorgan Fleming Japanese IT PLC
12 May 2004


                     ASSET ANALYSIS AS AT 30th April 2004

JPMORGAN FLEMING JAPANESE INVESTMENT TRUST plc

                                                      % funds as at 30/04/04
UK                                                                         0
Japan 1st section                                                         95
Japan 2nd section                                                          2
Japan OTC/regional                                                         4
Japan bonds                                                                0
Cash and non Japanese fixed interest                                      -1
                                                                         100

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