Geographical Breakdowns

JPMorgan Fleming Mercantile IT PLC
5 November 2004



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

                              31st October 2004


JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST

                                                                             %
United Kingdom                                                             92.8
Cash                                                                        7.2
                                                                            100


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