Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

THE MERCANTILE INVESTMENT TRUST PLC

REPURCHASE OF ORDINARY SHARES INTO TREASURY

Legal Entity Identifier: 549300BGX3CJIHLP2H42

Information disclosed in accordance with DTR 5.5.1

The Mercantile Investment Trust plc (the 'Company') purchased into Treasury 200,000 Ordinary shares at 1772.39 pence per share.

Following the transaction the Company holds 7,668,799 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 86,780,419.

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

6 February 2017

For further information, please contact:

Juliet Dearlove

JPMorgan Funds Limited

020 7742 4000