Sector/Geographical Breakdown

JPMorgan Fleming American IT PLC
13 May 2002



SECTOR/GEOGRAPHIC BREAKDOWNS BY % AND TEN LARGEST INVESTMENTS, April 2002




JPMORGAN FLEMING AMERICAN INVESTMENT TRUST plc

                                                                                   %
BY SECTOR

Financials                                                                      23.7
Non-Cyclical Services                                                           14.7
Cyclical Services                                                               14.0
General Industrials                                                             10.6
Assets / Liabilities                                                             9.9
Information Technology                                                           8.7
Resources                                                                        6.8
Non-Cyclical Consumer Goods                                                      5.7
Utilities                                                                        3.1
Cyclical Consumer Goods                                                          1.8
Basic Industrials                                                                1.0


Total                                                                            100


BY TERRITORY                                                                       %

North America                                                                   89.5
Assets/Liabilities                                                               9.9
United Kingdom                                                                   0.3
European Funds                                                                   0.3

Total                                                                            100


TEN LARGEST INVESTMENTS

JPMF American Micro Cap Fund                                                     3.2
Citigroup                                                                        2.5
Microsoft                                                                        2.3
Pfizer                                                                           2.3
Exon Mobil                                                                       2.2
General Electric                                                                 2.1
Fleming US Dicovery Fund III                                                     1.8
American International                                                           1.7
IBM                                                                              1.5
Kraft Foods                                                                      1.5

Total                                                                           21.1





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