Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
21 May 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 35,000 ordinary shares at 1398 pence per
share representing 0.03% of the ordinary shares in issue.



The current repurchase authority for 16,908,105 shares was approved by
shareholders on 16th May 2007.  To date 80,044 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 112,715,859.








21st May 2007





For further information, please contact:



Jonathan Latter

JPMorgan Asset Management (UK) Limited, 020 7742 6000





Shamus Henderson

Cazenove, 020 71558122






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