Top Tens at 31 May 2005

JPMorgan Fleming Mercantile IT PLC
2 June 2005

31- May- 05                                                                
JPMorgan Investment Trust                                                  
Ten Largest Investments                                                    
in % of Total Assets.                                                      
                                                                                                 
                                                                                                 
                                                                                                 
Ten Largest Investments                                                    
JPMorgan Fleming Mercantile Investment Trust                               
P&O                                                                   2.1 
Taylow Woodrow                                                        2.0  
Persimmon                                                             1.9  
EMI                                                                   1.9  
Pilkington                                                            1.7  
Slough Estates                                                        1.7  
Wimpey George                                                         1.7  
Barratt Developments                                                  1.7  
GKN                                                                   1.6  
BPB                                                                   1.6  
                                                                     17.9 
                                                                                                 

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