Ten Largest Investments

JPMorgan Fleming Smaller Cos IT PLC
2 March 2004


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


Ten Largest Investments                                          
JPMorgan Fleming Smaller Companies Investment Trust              

Mcbride                                                   2.1    
Evolution                                                 2.1    
Savills                                                   1.9    
Kensington Group                                          1.8    
Brewin Dolphin                                            1.7    
Mccarthy & Stone                                          1.5    
Atkins (WS)                                               1.5    
ITNET                                                     1.4    
Future Networks                                           1.4    
City Centre Restaurants                                   1.4    
                                                         16.8   


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