Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
23 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 120,590 ordinary shares at 1346.8339
pence per share representing 0.1% 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 9,100,441 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 119,193,235.





23rd 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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