Asset Analysis as at 31st Oct

JPMorgan Fleming Mercantile IT PLC
04 November 2005

                  ASSET ANALYSIS AS AT 31st October 2005



JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST plc

                                                                 % funds as at
                                                                    31/10/05
UK FTSE 100                                                                  5
UK FTSE 250 (excluding IC's)                                                76
FTSE Small Cap (excluding IC's)                                             14
IC income and capital shares                                                 0
Other IC's                                                                   0
International equities                                                       0
Cash and Fixed Interest                                                      5
                                                                           100









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