Geographical Distribution

JPMorgan Flem Russian Secs PLC
9 June 2004



                      JPMORGAN FLEMING INVESTMENT TRUST               
                     GEORGRAPHICAL BREAKDOWNS % OF TOTAL
                         ASSETS AS AT 31ST May 2004




JPMORGAN FLEMING RUSSIAN SECURITIES

                                                                         %
Russia                                                               109.1
Cash                                                                  -9.1
                                                                       100


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