Geographical Breakdowns

Fleming Mercantile Inv Trust PLC
19 February 2004


                     JPMORGAN FLEMING INVESTMENT TRUST               
                 GEORGRAPHICAL BREAKDOWN % OF TOTAL ASSETS 
                         AS AT 31st January 2004

THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                               %
United Kingdom                                                              92.8
Cash                                                                         7.2
                                                                             100


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