Geographical Distribution

JPMorgan Fleming Mercantile IT PLC
14 July 2004


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





THE FLEMING MERCANTILE INVESTMENT TRUST

                                                        %
United Kingdom                                       93.4
Cash                                                  6.6
                                                      100




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