Re: Participation in Scheme

JPMorgan Fleming Mercantile IT PLC
11 February 2005



                          STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC



                           PURCHASE OF OWN SECURITIES



Following the share repurchase announced today, the Company further announces
that it now holds a total of 3,000,000 shares in treasury.


The number of shares in issue less the total number of treasury shares is
132,826,640.


11th February 2005


For further information, please contact:

Richard Lewis
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
020 7742 6000





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