Ten Largest EquityInvestments

JPMorgan Fleming Japanese IT PLC
2 April 2004



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

Ten Largest Investments                                          
JPMorgan Fleming Japanese Investment Trust                       

Toyota Motor                                              3.3    
Canon                                                     3.1    
Sumitomo Mitsui Financial                                 2.6    
Honda Motor                                               2.6    
Sumitomo Trust and Banking                                2.6    
Mizuho Financial                                          2.4    
Nikko Cordial                                             2.3    
Mitsui Fudosan                                            2.3    
Matsui Securities                                         2.2    
Fanuc                                                     2.2    
                                                         25.6   



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