**CERTIFICATIONS**

  I, **Nicholas Kaiser**, certify that:  1. I have reviewed this report on Form N-CSR of **Saturna Investment Trust**;  2. Based on my knowledge, this report does not contain any untrue statement  of a material fact or omit to state a material fact necessary to make the statements  made, in light of the circumstances under which such statements were made, not  misleading with respect to the period covered by this report;  3. Based on my knowledge, the financial statements, and other financial information  included in this report, fairly present in all material respects the financial  condition, results of operations, changes in net assets, and cash flows (if  the financial statements are required to include a statement of cash flows)  of the registrant as of, and for, the periods presented in this report;  4. The registrant’s other certifying officer(s) and I are responsible for  establishing and maintaining disclosure controls and procedures (as defined  in Rule 30a-3 (c) under the Investment Company Act of 1940) for the registrant  and have:  a) Designed such disclosure controls and procedures, or caused such disclosure  controls and procedures to be designed under our supervision, to ensure that  material information relating to the registrant, including its consolidated  subsidiaries, is made known to us by others within those entities, particularly  during the period in which this report is being prepared;  b) Designed such internal control over financial reporting, or caused such internal  control over financial reporting to be designed under our supervision, to provide  reasonable assurance regarding the reliability of financial reporting and the  preparation of financial statements for external purposes in accordance with  generally accepted accounting principles; 

c) Evaluated the effectiveness of the registrant’s disclosure  controls and procedures and presented in this report our conclusions about the  effectiveness of the disclosure controls and procedures, as of a date within  90 days prior to the filing date of this report based on such evaluation; and  d) Disclosed in this report any change in the registrant’s internal control  over financial reporting that occurred during the second fiscal quarter of the  period covered by this report that has materially affected, or is reasonably  likely to materially affect, the registrant’s internal control over financial  reporting; and  5. The registrant’s other certifying officer(s) and I have disclosed, to  the registrant’s auditors and the audit committee of the registrant’s  board of directors (or persons performing the equivalent functions):  a) All significant deficiencies and material weaknesses in the design or operation  of internal controls over financial reporting which are reasonably likely to  adversely affect the registrant’s ability to record, process, summarize,  and report financial information; and  b) Any fraud, whether or not material, that involves management or other employees  who have a significant role in the registrant’s internal control over financial  reporting.

 

Date: July 30, 2004  /s/ *Nicholas Kaiser*  President 

**CERTIFICATIONS**

  I, **Christopher Fankhauser**, certify that:  1. I have reviewed this report on Form N-CSR of **Saturna Investment Trust**;  2. Based on my knowledge, this report does not contain any untrue statement  of a material fact or omit to state a material fact necessary to make the statements  made, in light of the circumstances under which such statements were made, not  misleading with respect to the period covered by this report;  3. Based on my knowledge, the financial statements, and other financial information  included in this report, fairly present in all material respects the financial  condition, results of operations, changes in net assets, and cash flows (if  the financial statements are required to include a statement of cash flows)  of the registrant as of, and for, the periods presented in this report;  4. The registrant’s other certifying officer(s) and I are responsible for  establishing and maintaining disclosure controls and procedures (as defined  in Rule 30a-3 (c) under the Investment Company Act of 1940) for the registrant  and have:  a) Designed such disclosure controls and procedures, or caused such disclosure  controls and procedures to be designed under our supervision, to ensure that  material information relating to the registrant, including its consolidated  subsidiaries, is made known to us by others within those entities, particularly  during the period in which this report is being prepared;  b) Designed such internal control over financial reporting, or caused such internal  control over financial reporting to be designed under our supervision, to provide  reasonable assurance regarding the reliability of financial reporting and the  preparation of financial statements for external purposes in accordance with  generally accepted accounting principles;   c) Evaluated the effectiveness of the registrant’s disclosure controls  and procedures and presented in this report our conclusions about the effectiveness  of the disclosure controls and procedures, as of a date within 90 days prior  to the filing date of this report based on such evaluation; and  d) Disclosed in this report any change in the registrant’s internal control  over financial reporting that occurred during the second fiscal quarter of the  period covered by this report that has materially affected, or is reasonably  likely to materially affect, the registrant’s internal control over financial  reporting; and  5. The registrant’s other certifying officer(s) and I have disclosed, to  the registrant’s auditors and the audit committee of the registrant’s  board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the  design or operation of internal controls over financial reporting which are  reasonably likely to adversely affect the registrant’s ability to record,  process, summarize, and report financial information; and  b) Any fraud, whether or not material, that involves management or other employees  who have a significant role in the registrant’s internal control over financial  reporting.

  Date: July 30, 2004

/s/ *Christopher Fankhauser*  Treasurer