Top Ten Largest Investments

JPMorgan Fleming US Disc IT PLC
5 January 2004

Dec-03                                                            
JPMorgan Fleming Investment Trust                                 
Ten Largest Investments                                           
in % of Total Assets.                                             

Ten Largest Investments                                           
JPMorgan Fleming US Discovery Investment Trust                    
Proassurance                                                 2.4  
TTM Technologies                                             2.4  
Esterline Technologies                                       2.3  
Impax Laboratories                                           2.2  
J&J Snack Food                                               2.2  
Cimarex Energy                                               2.1  
SCP Pool                                                     2.0  
American Healthways                                          2.0  
Scansource                                                   1.9  
Merix                                                        1.9  
                                                            21.4  



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