Dividend Declaration

JPMorgan Fleming Mercantile IT PLC
07 April 2005






                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC



                           FOURTH QUARTERLY DIVIDEND



The Directors have declared that a fourth quarterly dividend of 7.00 pence per
share will be paid on 3rd May 2005 to shareholders on the register as at close
of business on 15th April 2005 (XD 13th April 2005).



7th April 2005



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


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