Geographical Distribution

JPMorgan Fleming Mercantile IT PLC
2 February 2005


January-05
JPMorgan Fleming Investment Trust
Ten Largest Investments
in % of Total Assets.


Ten Largest Investments
JP Morgan Fleming Mercantile Investment Trust
EMI                                                               2.1
BPB                                                               2.1
P &O                                                              2.0
Taylow Woodrow                                                    1.7
Persimmon                                                         1.7
Slough Estates                                                    1.6
Trinity Mirror                                                    1.6
Kesa Electricals                                                  1.5
Barratt Developments                                              1.5
International Power                                               1.5
                                                                 17.3



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