Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
08 March 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 15,311 ordinary shares at 1261.73 pence
per share representing 0.01% 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 4,111,910 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase total 124,181,766.



8th March 2007


For further information, please contact:

Andrew Norman
JPMorgan Asset Management (UK) Limited, 020 7742 6000


Shamus Henderson
Casenove








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