ITEM 10(B).  EXHIBITS.
                            FORM N-CSR CERTIFICATION

I, CHRISTOPHER W. CLAUS, certify that:
   --------------------

1.    I have  reviewed  this  report on Form  N-CSR for the semi-annual period
      ending November 30, 2003 for the Funds of USAA 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) and
      internal  control over  financial  reporting  (as defined in Rule 30a-3(d)
      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 registrant's
          most recent fiscal half-year (the registrant's second fiscal half-year
          in the case of an annual 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  control  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: 01-13-04

                                             /S/ CHRISTOPHER W. CLAUS
                                             ------------------------
                                             Christopher W. Claus
                                             President





                            FORM N-CSR CERTIFICATION

I, DAVID HOLMES, certify that:
   ------------

1.    I have  reviewed  this  report on Form  N-CSR for the semi-annual period
      ending November 30, 2003 for the Funds of USAA 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) and
      internal  control over  financial  reporting  (as defined in Rule 30a-3(d)
      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 such
          evaluation; and

      (d) disclosed  in the  report  any  change  in the  registrant's  internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal half-year (the registrant's second fiscal half-year
          in the case of an annual 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  control  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: 01-13-04

                                            /S/ DAVID HOLMES
                                            --------------------
                                            David Holmes
                                            Treasurer



                                   SIGNATURES


Pursuant to the  requirements  of the  Securities  Exchange  Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:  USAA INVESTMENT TRUST

By:*     /S/ EILEEN M. SMILEY
          ----------------------------------------------------------
         Signature and Title:  Eileen M. Smiley, Assistant Secretary

Date:    01-13-04


Pursuant to the  requirements  of the  Securities  Exchange  Act of 1934 and the
Investment  Company  Act of  1940,  this  report  has been  signed  below by the
following  persons on behalf of the  registrant and in the capacities and on the
dates indicated.

By:*     /S/ CHRISTOPHER W. CLAUS
          ---------------------------------------------------
         Signature and Title:  Christopher W. Claus/President

Date:    01-13-04


By:*     /S/ DAVID HOLMES
          -------------------------------------------
         Signature and Title:  David Holmes/Treasurer

Date:    01-13-04


*Print the name and title of each signing officer under his or her signature.