Geographical Breakdowns

JPMorgan Fleming Japanese Smllr Cos
10 December 2003


                         JPMORGAN FLEMING INVESTMENT TRUST                  
                        GEORGRAPHICAL BREAKDOWNS % OF TOTAL
                          ASSETS AS AT 30th  November 2003


JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                               %
Japan                                                                       95.0
Cash                                                                         5.0
                                                                             100

                       JPMORGAN FLEMING INVESTMENT TRUST                                
                            SECTOR  BREAKSDOWNS
                  % OF TOTAL ASSETS AS AT 30th November 2003


JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                               %
General Industrials                                                         38.3
Cyclical Services                                                           17.8
Basic Industries                                                            17.1
Information Technology                                                      12.5
Financials                                                                   5.2
Cash                                                                         5.0
Cyclical Consumer Goods                                                      3.5
Non-Cyclical Consumer Goods                                                  0.6
                                                                             100



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