Dividend Declaration

JPMorgan Fleming Mercantile IT PLC
30 November 2004



                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                            THIRD QUARTERLY DIVIDEND


The Directors have declared that a third quarterly dividend of 4.25p per share
will be paid on 1st February 2005 to shareholders on the register as at close of
business on 7th January 2005 (XD 5th January 2005).

30th November 2004


J.P. Morgan Fleming Asset Management (UK) Limited - Secretary


For further information:

Richard Lewis

J.P. Morgan Fleming Asset Management (UK) Limited .................020 7742 6000


                      This information is provided by RNS
            The company news service from the London Stock Exchange