Geographical Breakdowns

Fleming Mercantile Inv Trust PLC
10 December 2003


                         JPMORGAN FLEMING INVESTMENT TRUST                  
                        GEORGRAPHICAL BREAKDOWNS % OF TOTAL
                          ASSETS AS AT 30th  November 2003


THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                               %
United Kingdom                                                              86.6
Cash                                                                        13.4
                                                                             100


                       JPMORGAN FLEMING INVESTMENT TRUST                                
                            SECTOR  BREAKSDOWNS
                  % OF TOTAL ASSETS AS AT 30th November 2003


THE FLEMING MERCANTILE INVESTMENT TRUST

                                                                               %
Cyclical Services                                                           27.2
Basic Industries                                                            17.0
Financials                                                                  16.2
Cash                                                                        13.4
Information Technology                                                       7.5
General Industrials                                                          6.8
Utilities                                                                    3.7
Non-Cyclical Consumer Goods                                                  3.3
Resources                                                                    1.6
Non-Cyclical Services                                                        1.3
Cyclical Consumer Goods                                                      1.3
Fixed Interest                                                               0.7
                                                                             100


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