Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
05 April 2007


                           STOCK EXCHANGE ANNOUNCEMENT

                 JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                  REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming Mercantile Investment Trust plc announces that today in the
market they purchased for cancellation 80,000 ordinary shares at 1336.9 pence
per share representing 0.06% of the ordinary shares in issue.


The current repurchase authority for 19,231,222 shares was approved by
shareholders on 24th May 2006.  To date 5,256,432 shares have been repurchased
under this authority.


The remaining shares in issue following this repurchase total 123,037,244.




5th April 2007



For further information, please contact:

Andrew Norman
JPMorgan Asset Management (UK) Limited, 020 7742 6000



Gavin Tooke
Dresdner Kleinwort








                      This information is provided by RNS
            The company news service from the London Stock Exchange           FEESTIEIID