10 Largest Equity Investments

JPMorgan Fleming US Disc IT PLC
2 June 2004


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


Ten Largest Investments
JPMorgan Fleming US Discovery Investment Trust
Impax Laboratories                                           3.1
American Dental                                              2.7
Marketwatch.com                                              2.6
Proassurance Corporation                                     2.4
NUCO2                                                        2.3
SCP Pool                                                     2.3
TTM Technologies                                             2.2
Youbet.com                                                   2.0
SM&A                                                         1.9
Direct General                                               1.8
                                                            23.3



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