Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
01 November 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 34,000
ordinary shares for cancellation at 1,196.10 pence per share.

Following the transaction the remaining shares in issue total 106,016,395.



1st November 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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