Ten Largest EquityInvestments

JPMorgan Fleming Smaller Cos IT PLC
2 April 2004


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


Ten Largest Investments                                          
JPMorgan Fleming Smaller Companies Investment Trust              

Savills                                                   2.1    
Mcbride                                                   2.0    
Kensington Group                                          1.9    
Bellway                                                   1.6    
Brewin Dolphin                                            1.5    
Mccarthy & Stone                                          1.5    
Atkins (WS)                                               1.5    
Morgan Sindall                                            1.5    
Evolution Group                                           1.4    
Topps Tiles                                               1.4    
                                                         16.4   


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