Topten/Geo./Sector

Fleming Mercantile Inv Trust PLC
16 September 2003

                    JPMORGAN FLEMING INVESTMENT TRUST               
                  GEORGRAPHICAL BREAKSDOWN % OF TOTAL
                      ASSETS AS AT 31st August 2003

THE FLEMING MERCANTILE INVESTMENT TRUST
                                                                                    %
United Kingdom                                                                   92.3
Cash                                                                              7.7
                                                                                  100

JPMORGAN FLEMING INVESTMENT TRUST                                SECTOR  BREAKSDOWN
% OF TOTAL ASSETS AS AT                    31st August 2003

THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                                     %
Cyclical Services                                                                 29.0
Basic Industries                                                                  17.0
Financials                                                                        16.8
Cash                                                                               7.7
General Industrials                                                                7.6
Non-Cyclical Consumer Goods                                                        7.5
Information Technology                                                             6.8
Non-Cyclical Services                                                              2.2
Resources                                                                          1.8
Utilities                                                                          1.7
Cyclical Consumer Goods                                                            1.2
Fixed Interest                                                                     0.7
                                                                                   100

JPMORGAN FLEMING INVESTMENT TRUST
TEN LARGEST INVESTMENTS % OF TOTAL ASSETS AS AT                    31st August 2003

THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                  Ten Largest
Hays                                                                               2.1
Invensys                                                                           1.9
EMI                                                                                1.7
Trinity Mirror                                                                     1.6
Tate & Lyle                                                                        1.6
Carlton Communication                                                              1.6
Gresham Computing                                                                  1.6
Hammerson                                                                          1.5
LogicaCMG                                                                          1.4
Persimmon                                                                          1.4
                                                                                  16.4



                      This information is provided by RNS
            The company news service from the London Stock Exchange