AGM Statement

JPMorgan Fleming Mercantile IT PLC
19 May 2005



                         STOCK EXCHANGE ANNOUNCEMENT

               JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC


Following the Annual General Meeting of the Company held today, the Board are
pleased to announce that all the resolutions put to shareholders were passed,
including one special resolution which will allow the Company to make market
purchases of ordinary shares up to a maximum number of 19,910,713, representing
14.99% of the Company's issued ordinary share capital as at the date of the
Annual Report & Accounts for the year ended 31st January 2005.


19th May 2005

For further information, please contact:



Craig Cleland

JPMorgan Asset Management (UK) Ltd .............. 020 7742 6000






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