Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

THE MERCANTILE INVESTMENT TRUST PLC

(the 'Company')

REPURCHASE OF ORDINARY SHARES INTO TREASURY

Legal Entity Identifier: 549300BGX3CJIHLP2H42

Information disclosed in accordance with LR 12.4.6 and DTR 5.5.1

The Company has today purchased into Treasury 100,000 Ordinary shares at 1910.0595 pence per share.

Following the transaction the Company holds 10,457,898 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 83,991,320.

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

28 June 2017

For further information, please contact:

Jonathan Latter

JPMorgan Funds Limited

020 7742 4000