Transaction in Own Shares

JPMorgan Fleming Mercantile IT PLC
07 February 2006



                          STOCK EXCHANGE ANNOUNCEMENT

                JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


JPMorgan Fleming Mercantile Investment Trust plc announces that today in the
market they purchased for cancellation 50,000 ordinary shares at 965 pence per
share representing 0.04% 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 2,956,000 shares have been repurchased
under this authority.

The remaining shares in issue following this repurchase total 132,444,142.


7th February 2006


For further information, please contact:

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

Shamus Henderson
JPMorgan Cazenove , 0207 155 8007




                      This information is provided by RNS
            The company news service from the London Stock Exchange