Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
02 July 2007



                       LONDON STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming Mercantile Investment Trust plc has today purchased 37,000
ordinary shares for cancellation at 1,273.0 pence per share.

Following the transaction the remaining shares in issue total 109,612,043.


2nd July 2007


For further information, please contact:

Jonathan Latter
JPMorgan Asset Management (UK) Limited, 020 7742 6000

Gavin Tooke
Dresdner Kleinwort, 020 7475 6685






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