Geographical Breakdown

JPMorgan Fleming Mercantile IT PLC
8 February 2005



                      JPMORGAN FLEMING INVESTMENT TRUST               
                     GEOGRAPHICAL BREAKDOWNS % OF TOTAL
                               ASSETS AS AT

                             31st January 2005


                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST

                                                                             %
United Kingdom                                                            98.7
Cash                                                                       1.3
                                                                           100




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