Top 10 Largest Investments

JPMorgan Fleming Japanese Smllr Cos
5 January 2005


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



Ten Largest Investments

JPMorgan Fleming Japanese Smaller Investment Trust

UK Treasury 8.5% 07/12/05                                                    4.9
Pacific Management                                                           3.0
ARRK                                                                         2.8
Usen                                                                         2.4
Works Application                                                            2.3
Dodwell                                                                      2.0
Creed                                                                        1.8
Park 24                                                                      1.7
Geo Co                                                                       1.7
Kirin Beverage                                                               1.5
                                                                            24.1



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