Net Asset Value(s)-Amendment

JPMorgan Fleming Mercantile IT PLC
02 November 2007


The following replaces announcement 8198G released to the London Stock Exchange
at 11.34 a.m. on Thursday 1st November 2007.

Please note that the Net Asset Value for JPMorgan Fleming Mercantile Investment
Trust at the close of business on 31st October 2007 was 1386.68 pence per share
and not 1368.68 pence per share as previously stated.

All other details remain unchanged.


DATE 1st NOVEMBER 2007


JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES
(NAVS) OF THE FOLLOWING INVESTMENT TRUSTS AS AT CLOSE OF BUSINESS ON 31st
OCTOBER 2007.  THESE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC
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 BID BASIS, OR IF MORE APPROPRIATE, A LAST TRADE 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 31st
OCTOBER 2007 WERE AS FOLLOWS:

JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC:                       1,386.68



THE NET ASSET VALUES IN PENCE WITH DEBT VALUED AT FAIR VALUE AS AT MARKET CLOSE
ON 31st OCTOBER 2007 ARE AS FOLLOWS:

JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC:                       1,373.68






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