Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
19 April 2007



                          STOCK EXCHANGE ANNOUNCEMENT


                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC


                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Mercantile Investment Trust plc announces that today in the
market they purchased for cancellation 39,149 ordinary shares at 1328.6596 pence
per share representing 0.03% of the ordinary shares in issue.

The current repurchase authority for 19,231,222 shares was approved by
shareholders on 24th May 2006.  To date 8,979,581 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase total 119,313,825.


19th April 2007


For further information, please contact:

Jonathan Latter
JPMorgan Asset Management (UK) Limited, 020 7742 6000


Shamus Henderson
Cazenove, 020 71558077



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