Total Voting Rights

STOCK EXCHANGE ANNOUNCEMENT

VOTING RIGHTS AND CAPITAL

THE MERCANTILE INVESTMENT TRUST PLC

(the 'Company')

Legal Entity Identifier: 549300BGX3CJIHLP2H42

Information disclosed in accordance with DTR 5.6

In conformity with the Transparency Directive, the Company would like to notify the market of the following:

As at 28th February 2017, the Company's issued share capital consists of 94,449,218 Ordinary 25 pence shares with voting rights. The Company holds 7,781,299 Ordinary shares in Treasury.

Therefore, as at 28th February 2017, the total number of voting rights in The Mercantile Investment Trust plc is 86,667,919.

The above figure (86,667,919) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, The Mercantile Investment Trust plc under the FCA's Disclosure Guidance and Transparency Rules.

28th February 2017

For further information, please contact:

Juliet Dearlove

For and on behalf of

JPMorgan Funds Limited - Secretary

020 7742 4000