Geographical Breakdown

JPMorgan Fleming Mercantile IT PLC
7 October 2004

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


                    JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST

                                                                          %
United Kingdom                                                         95.8
Cash                                                                    4.2
                                                                        100




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