Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
24 July 2007



                       LONDON STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Mercantile Investment Trust plc has today purchased 12,065
ordinary shares for cancellation at 1,265.49 pence per share.

Following the transaction the remaining shares in issue total 108,160,811.


24th July 2007


For further information, please contact:

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

Shamus Henderson
Cazenove, 020 7155 8122




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