Geographical Distribution

JPMorgan Fleming US Disc IT PLC
11 January 2005


                        JPMORGAN FLEMING INVESTMENT TRUST               
                             GEOGRAPHICAL BREAKDOWNS 
                            % OF TOTAL ASSETS AS AT 
                               31st December 2004




JPMORGAN FLEMING US DISCOVERY INVESTMENT TRUST

                                                                               %

USA                                                                         93.2
Cash                                                                         6.8
                                                                             100



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