AGM Statement

JPMorgan Fleming Mercantile IT PLC
16 May 2007



STOCK EXCHANGE ANNOUNCEMENT


JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC


At the Annual General Meeting of the Company held today, the Chairman reported
that the Company had started the new financial year strongly: in the first
quarter to 30th April, the share price total return was 8.5% and the total
return on net assets was 9.5% against the benchmark index which returned 7.6%.


A full interim management statement, to be issued in accordance with DTR 4.3.2 R
of the Disclosure & Transparency Rules, will follow in due course.


The Board is pleased to announce that all of the resolutions put to shareholders
at today's Annual General Meeting were passed, including a Special Resolution
which will allow the Company to make market purchases of up to 16,908,105
ordinary shares, representing 14.99% of the Company's issued share capital.


Hamish Leslie Melville,

Chairman


16th May 2007


For further information, please contact:


Jonathan Latter

For and on behalf of

JPMorgan Asset Management (UK) Limited - Secretary

020 7742 6000



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