Geographical Distribution

JPMorgan Fleming Smaller Cos IT PLC
14 July 2004


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


JPMORGAN FLEMING SMALLER COMPANIES INVESTMENT TRUST

                                                                      %
United Kingdom                                                     98.8
Cash                                                                1.2
                                                                    100


                      This information is provided by RNS
            The company news service from the London Stock Exchange