Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
19 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 yesterday in the
market they purchased for cancellation 100,000 ordinary shares at 1345.619 pence
per share representing 0.08% 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 8,940,432 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 119,353,244.








19th April 2007





For further information, please contact:



Jonathan Latter

JPMorgan Asset Management (UK) Limited, 020 7742 6000





Shamus Henderson

Cazenove, 020 71558077








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