Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
17 March 2006







                          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 85,656 ordinary shares at 1027.84 pence
per share representing 0.07% of the ordinary shares in issue.



The current repurchase authority for 20,296,481 shares was approved by
shareholders on 19th May 2005.  To date 4,720,088 shares have been repurchased
under this authority.



The remaining shares in issue following this repurchase total 130,680,054.








17th March 2006





For further information, please contact:



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





Shamus Henderson
JPMorgan Cazenove , 0207 155 8007








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