AGM Statement

JPMorgan Fleming Mercantile IT PLC
24 May 2006

                          STOCK EXCHANGE ANNOUNCEMENT

                                 AGM STATEMENT

               JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                                 24TH May 2006


Following the Annual General Meeting of the Company, which was held today, the
Board is pleased to announce that all of the Ordinary Resolutions put to
shareholders were passed.  In addition, two Special Resolutions were passed
which:

i)   will allow the Company to disapply pre-emption rights on allotment of new 
     ordinary shares;

ii)  will allow the Company to make market purchases of up to 19,231,222 
     ordinary shares, representing 14.99% of the Company's issued share capital;


24th May 2006


For further information, please contact:

Jonathan Latter
For and on behalf of
JPMorgan Asset Management (UK) Limited - Secretary
020 7742 6000



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