  Supersymmetric SU(5) GUT augmented with anomaly free U(1)_F flavor symmetry
is presented. Very economical field content and U(1)_F charge assignment are
obtained by specific construction. In particular, three families of 10+5*
chiral matter, along the SU(5) singlet states (some of which serve as right
handed neutrinos) are obtained. Appealing texture zero Yukawa matrices provide
natural understanding of hierarchies between charged fermion masses and
mixings. The model predicts inverted hierarchical neutrino mass scenario with
interesting implications.
