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 130,678 Ordinary shares at 1953.23 pence per share.

Following the transaction the Company holds 10,004,166 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 84,445,052.

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

26 May 2017

For further information, please contact:

Jonathan Latter

JPMorgan Funds Limited

020 7742 4000