Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
24 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 108,511 ordinary shares at 1336.9176
pence per share representing 0.09% 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 9,208,952 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase total 119,084,724.




24th April 2007





For further information, please contact:



Jonathan Latter

JPMorgan Asset Management (UK) Limited, 020 7742 6000





Shamus Henderson

Cazenove, 020 71558077








                      This information is provided by RNS
            The company news service from the London Stock Exchange