Director/PDMR Shareholding

JPMorgan Fleming Mercantile IT PLC
18 December 2006


NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY OR CONNECTED PERSONS


1. Name of the issuer



JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC



2. State whether the notification relates to (i) a transaction notified in
accordance with DR 3.1.4R(1)(a); or

(ii) DR 3.1.4(R)(1)(b) a disclosure made in accordance with section 324 (as
extended by section 328) of the Companies Act 1985; or

(iii) both (i) and (ii)



(ii) DR 3.1.4(R)(1)(b)



3. Name of person discharging managerial responsibilities/director



IAN RUSSELL



4. State whether notification relates to a person connected with a person
discharging managerial responsibilities/director named in 3 and identify the
connected person



AS IN 3 ABOVE



5. Indicate whether the notification is in respect of a holding of the person
referred to in 3 or 4 above or in respect of a non-beneficial interest



BENEFICIAL INTEREST



6. Description of shares (including class), debentures or derivatives or
financial instruments relating to shares



ORDINARY 25P



7. Name of registered shareholders(s) and, if more than one, the number of
shares held by each of them



TC NOMINEES (NO.1) LIMITED

....................................



8 State the nature of the transaction



PURCHASE

....................................



9. Number of shares, debentures or financial instruments relating to shares
acquired



5,000



10. Percentage of issued class acquired (treasury shares of that class should
not be taken into account when calculating percentage)



0.004%



11. Number of shares, debentures or financial instruments relating to shares
disposed



N/A



12. Percentage of issued class disposed (treasury shares of that class should
not be taken into account when calculating percentage)



N/A



13. Price per share or value of transaction



1,223.6 P PER SHARE



14. Date and place of transaction



15TH DECEMBER 2006



15. Total holding following notification and total percentage holding following
notification (any treasury shares should not be taken into account when
calculating percentage)



5,000 (0.004%)



16. Date issuer informed of transaction



15TH DECEMBER 2006



If a person discharging managerial responsibilities has been granted options by
the issuer complete the following boxes



17 Date of grant



....................................



18. Period during which or date on which it can be exercised



....................................



19. Total amount paid (if any) for grant of the option



....................................



20. Description of shares or debentures involved (class and number)



....................................

....................................



21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at the time of exercise



....................................



22. Total number of shares or debentures over which options held following
notification



....................................



23. Any additional information



....................................



24. Name of contact and telephone number for queries



ALEX PARRY

0207 7426000



Name and signature of duly authorised officer of issuer responsible for making
notification



JONATHAN LATTER

0207 7426000



Date of notification



18TH DECEMBER

END


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