AGM Statement

Fleming Mercantile Inv Trust PLC
04 June 2004



                                 STOCK EXCHANGE ANNOUNCEMENT


                       THE FLEMING MERCANTILE INVESTMENT TRUST PLC







Following the Annual General Meeting of the Company held on 3rd June 2004, the
Board are pleased to announce that all the resolutions put to shareholders were
passed, including three special resolutions which:



a)     will allow the Company to allot relevant securities up to an aggregate
nominal amount of £1,697,833;



b)     will allow the Company to make market purchases of
ordinary shares up to a maximum number of 20,360,413 representing 14.99% of the
Company's issued ordinary share capital; and



c)     change the Company's name to 'JPMorgan Fleming Mercantile
Investment Trust plc'.



The change of the Company name will become effective on the issue of the
certificate of incorporation on change of name by the Registrar of Companies and
a further announcement will follow in this respect.




4th June 2004


For further information, please contact:


Craig Cleland
J.P. Morgan Fleming Asset Management (UK) Ltd    020 7742 6000






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