Geographical Distribution

Fleming Mercantile Inv Trust PLC
12 May 2004



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


                  THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                        %
United Kingdom                                                       96.7
Cash                                                                  3.3
                                                                      100



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