Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
31 January 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 145,000 ordinary shares at 1253.37 pence
per share representing 0.12% 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 3,234,917 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 125,058,759.








31st January 2007





For further information, please contact:



Jonathan Latter

JPMorgan Asset Management (UK) Limited, 020 7742 6000





Shamus Henderson

Casenove








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