Net Asset Value(s)

JPMorgan Fleming Mercantile IT PLC 02 November 2005 IN ACCORDANCE WITH THE RECOMMENDATIONS OF THE AITC, WITH EFFECT FROM 1ST JULY 2004 JPMORGAN ASSET MANAGEMENT IS ANNOUNCING THE NET ASSET VALUES OF THE INVESTMENT TRUSTS IT MANAGES BOTH WITH DEBT AT PAR VALUE, AND WITH DEBT AT FAIR VALUE (IF APPLICABLE). THE DEBT AT FAIR VALUE HAS BEEN CALCULATED AS FOLLOWS: DEBENTURES HAVE BEEN REVALUED USING AN ESTIMATED FAIR MARKET SPREAD OVER THE RELEVANT GILT; INTEREST RATE SWAPS AND FIXED RATE LOANS HAVE BEEN REVALUED USING MARK TO MARKET ESTIMATES PROVIDED BY A COUNTERPARTY OR OTHER RELEVANT SOURCE. THE NET ASSET VALUES IN PENCE AT PAR AS AT MARKET CLOSE ON 1ST NOVEMBER WERE AS FOLLOWS: JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC: 893.54 THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT FAIR VALUE AS AT MARKET CLOSE ON 1ST NOVEMBER 2005, WERE AS FOLLOWS: JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC: 875.65 This information is provided by RNS The company news service from the London Stock Exchange
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