Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

THE MERCANTILE INVESTMENT TRUST PLC

REPURCHASE OF ORDINARY SHARES INTO TREASURY

The Mercantile Investment Trust plc (the 'Company') purchased into Treasury 10,000 Ordinary shares at 1635.00 pence per share.

Following the transaction the Company holds 5,542,299 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 88,906,919.

The Company will only re-issue shares held in Treasury at a premium to net asset value.

8 November 2016

For further information, please contact:

Juliet Dearlove

JPMorgan Funds Limited

020 7742 4000