Asset Analysis

JPMorgan Fleming Mercantile IT PLC
5 November 2004

               ASSET ANALYSIS AS AT 31st October 2004

JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST plc

                                                          % funds as at 31/10/04
UK FTSE 100                                                                    0
UK FTSE 250 (excluding IC's)                                                  74
FTSE Small Cap (excluding IC's)                                               19
IC income and capital shares                                                   0
Other IC's                                                                     0
International equities                                                         0
Cash and Fixed Interest                                                        7
                                                                             100




                      This information is provided by RNS
            The company news service from the London Stock Exchange     MSCFSWFEISLSEDF