Geographical Distribution

JPMorgan Fleming Japanese Smllr Cos
9 June 2004



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




JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                         %
Japan                                                                 97.6
Cash                                                                   2.4
                                                                       100


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