Geographical/Sector analysis

JPMorgan Fleming Emerge Mkts IT PLC
12 January 2004

JPMORGAN FLEMING INVESTMENT TRUST               
GEORGRAPHICAL BREAKDOWNS % OF TOTAL ASSETS 
AS AT 31st December 2003


JPMORGAN FLEMING EMERGING MARKETS INVESTMENT TRUST

                                                                                    %
Korea                                                                            22.5
Brazil                                                                           13.9
South Africa                                                                     12.9
Others                                                                            9.5
Russia                                                                            8.6
India                                                                             7.6
Mexico                                                                            5.9
Hong Kong                                                                         5.3
Taiwan                                                                            5.2
Indonesia                                                                         3.1
Hungary                                                                           2.6
Malaysia                                                                          1.7
Chile                                                                             1.0
Poland                                                                            0.5
Cash                                                                             -0.3
                                                                                  100

JPMORGAN FLEMING INVESTMENT TRUST                                
SECTOR  BREAKSDOWNS
% OF TOTAL ASSETS AS AT      31st December 2003


JPMORGAN FLEMING EMERGING MARKETS INVESTMENT TRUST

                                                                                      %
Financials                                                                         22.0
General Industrials                                                                14.5
Resources                                                                          14.5
Non-Cyclical Consumer Goods                                                        13.1
Non-Cyclical Services                                                              13.1
Cyclical Services                                                                   8.5
Basic Industries                                                                    5.6
Cyclical Consumer Goods                                                             5.3
Information Technology                                                              2.2
Utilities                                                                           1.5
Cash                                                                               -0.3
                                                                                    100




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