Top 10 Largest Investments

JPMorgan Fleming Mercantile IT PLC
2 September 2004

August-04
JPMorgan Fleming Investment Trust
Ten Largest Investments
in % of Total Assets.




Ten Largest Investments
JP Morgan Fleming Mercantile Investment Trust
---------------------------------------------
P&O                                                                     1.8
Trinity Mirror                                                          1.8
BPB                                                                     1.7
Persimmon                                                               1.7
Barratt Developments                                                    1.7
RMC                                                                     1.6
Slough Estates                                                          1.5
GKN                                                                     1.5
Signet                                                                  1.4
Travis Perkins                                                          1.4
                                                                       16.1



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