Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
01 June 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 58,963
ordinary shares for cancellation at 1378.76 pence per share.

Following the transaction the remaining shares in issue total 112,386,244.





1st June 2007



For further information, please contact:

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

Shamus Henderson
Cazenove, 020 71558122




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