Topten/Geo./Sector

JPMorgan Fleming Japanese Smllr Cos
16 September 2003

                    JPMORGAN FLEMING INVESTMENT TRUST               
                  GEORGRAPHICAL BREAKSDOWN % OF TOTAL
                      ASSETS AS AT 31st August 2003

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                                    %
Japan                                                                            98.8
Cash                                                                              1.2
                                                                                  100

JPMORGAN FLEMING INVESTMENT TRUST                                SECTOR  BREAKSDOWN
% OF TOTAL ASSETS AS AT                    31st August 2003

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST
                                                                                     %
General Industrials                                                               44.2
Information Technology                                                            17.7
Cyclical Services                                                                 14.1
Basic Industries                                                                  13.3
Cyclical Consumer Goods                                                            4.0
Financials                                                                         3.5
Non-Cyclical Consumer Goods                                                        2.0
Cash                                                                               1.2
                                                                                   100


JPMORGAN FLEMING INVESTMENT TRUST
TEN LARGEST INVESTMENTS % OF TOTAL ASSETS AS AT                    31st August 2003

JPMORGAN FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST

                                                                  Ten Largest
Teijin Seiki                                                                       3.6
JGC                                                                                3.5
Tsubakimoto                                                                        3.1
Tomen Electronics                                                                  3.1
Hosiden                                                                            2.9
Komori                                                                             2.9
Arrk                                                                               2.9
UMC Japan                                                                          2.8
Aeon Credit Service                                                                2.7
Nisso-Iwai-Nichimen                                                                2.7
                                                                                  30.2


                      This information is provided by RNS
            The company news service from the London Stock Exchange