Net Asset Value(s)

JPMorgan Fleming Mercantile IT PLC 16 November 2005 JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES (NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF BUSINESS ON 14TH NOVEMBER 2005. THESE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AITC RECOMMENDATIONS (I.E. EXCLUDING CURRENT FINANCIAL YEAR REVENUE ITEMS), EXCEPT WHERE NOTED BELOW. THE UNDERLYING INVESTMENTS OF THE INVESTMENT TRUSTS HAVE BEEN VALUED ON A LAST TRADE BASIS, OR IF MORE APPROPRIATE, A MID MARKET BASIS. PROVISIONS FOR PERFORMANCE FEES, CAPITAL EXPENSES AND CAPITAL INTEREST ARE INCLUDED IN THESE NAVS WHERE APPLICABLE. AN ESTIMATE OF THE CURRENT REVENUE RESERVE IS INCLUDED WHERE THIS RESERVE IS IN DEFICIT. THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT PAR AS AT MARKET CLOSE ON 15TH NOVEMBER WERE AS FOLLOWS: JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC: 940.75 THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT FAIR VALUE AS AT MARKET CLOSE ON 15TH NOVEMBER 2005, WERE AS FOLLOWS: JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC: 922.86 This information is provided by RNS The company news service from the London Stock Exchange
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