Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
31 December 2007



                       LONDON STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION



JPMorgan Fleming Mercantile Investment Trust plc purchased 15,000 ordinary
shares for cancellation at 1,047.66 pence per share on Friday 28th December
2007.

Following the transaction the remaining shares in issue total 104,999,395.


31st December 2007



For further information, please contact:

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

Shamus Henderson
JPM Cazenove





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