Geographical Distribution

JPMorgan Fleming Japanese Smllr Cos
11 January 2005

                        JPMORGAN FLEMING INVESTMENT TRUST               
                             GEOGRAPHICAL BREAKDOWNS 
                            % OF TOTAL ASSETS AS AT 
                               31st December 2004




JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                               %

Japan                                                                       95.4
Cash                                                                         4.6
                                                                             100




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