Ten Largest Investments

JPMorgan Fleming Japanese Smllr Cos
3 February 2004


Jan-04

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


Ten Largest Investments
JPMorgan Fleming Japanese Smaller Investment Trust

Eaccess                                                       4.0
Nissho-Iwai-Nichimen                                          3.7
Nabtesco                                                      3.4
Sankyo-Tatetama                                               3.3
Daiwa Kosho Lease                                             3.1
Uniden                                                        2.5
Don Quijote                                                   2.3
KOA                                                           2.1
Seikoh Giken                                                  2.1
Usen                                                          2.0
                                                             28.5


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