Dividend Declaration

JPMorgan Fleming Mercantile IT PLC
27 June 2005





                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                            FIRST QUARTERLY DIVIDEND

The Directors have declared that a first quarterly dividend of 4.25 pence per
share will be paid on 2nd August 2005 to shareholders on the register as at
close of business on 15th July 2005.


27th June 2005


JPMorgan Asset Management (UK) Limited - Secretary


For further information:




Jonathan Latter

JPMorgan Asset Management (UK) Limited ......................... 020 7742 6000


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