Holding(s) in Company

JPMorgan Fleming Mercantile IT PLC
23 May 2006

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1)   Name of company

JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

2)   Name of shareholder having a major interest

AXA S.A.


3)   Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18

IN RESPECT OF 2 ABOVE AND NON- BENEFICIAL

4)   Name of the registered holder(s) and, if more than one holder, the number
of shares held by each of them

HSBC GLOBAL CUSTODY NOMINEES (UK) LIMITED             10,687,291

CHASE NOMINEES LIMITED                                    10,000

SMITH & WILLIAMSON NOMINEES LIMITED                       81,400

BNY (OCS) NOMINEES LIMITED                                31,220

SUN LIFE INTERNATIONAL                                    15,040



5)   Number of shares/amount of stock acquired

NOT DISCLOSED


6)   Percentage of issued class


NOT DISCLOSED


7)   Number of shares/amount of stock disposed

NOT DISCLOSED


8)   Percentage of issued class

NOT DISCLOSED



9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

NOT DISCLOSED

11)  Date company became aware of holding

23 MAY 2006

12)  Total holding following this notification

10,824,951

13)  Total percentage holding of issued class following this notification

8.4%

14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

CLAIRE FAVIER-TILSTON         020 7742 3453

16)  Name and signature of authorised company official responsible for making
this notification



JONATHAN LATTER

 Date of notification: 23 MAY 2006




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