Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
24 May 2006







                          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 77,500 ordinary shares at 955.23 pence
per share representing 0.06% 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 77,500 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 128,216,176.








24th May 2006





For further information, please contact:



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





Gavin Tooke
Dresdner Kleinwort Wasserstein, 0207 623 8000








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