Top 10 Largest Investments

JPMorgan Fleming Eur Fldglng IT PLC
2 September 2004

August-04
JPMorgan Fleming Investment Trust
Ten Largest Investments
in % of Total Assets.



Ten Largest Investments
JPMorgan Fleming European Fledgeling Investment Trust
-----------------------------------------------------
FF European Discovery Fund                                             13.8
Nobia                                                                   2.8
Omega Pharmacy                                                          1.8
Koniklijke Wessanen                                                     1.8
Geberit                                                                 1.7
Nutreco Holding                                                         1.7
Campari                                                                 1.7
Marzotto & Figli                                                        1.7
Credit Emiliano                                                         1.6
JM AB                                                                   1.6
                                                                       30.2


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