Performance at Month End

Mercury World Mining Trust PLC
8 September 2000


MERCURY WORLD MINING TRUST plc
All information is at 31st August 2000 and unaudited.
Performance at month end with net income reinvested
                         One     Three     One      Three    Five
                        Month    Months    Year     Years    Years
Net asset value          15.0%    21.4%    23.5%    21.1%    14.0%
Share price              11.7%    20.8%    13.9%    13.8%     6.2%
HSBC Global Mining 
  Index (Capital Only)   11.2%    13.7%     6.6%    -0.7%   -13.2%

At month end
Net asset value 115.85p  including current year net revenue of 0.97p
Share price:     93.00p  Discount to NAV:                      19.7%
                         Net yield:                             1.3%
Total assets:   £237.3m
Gearing:          12.9%
Ordinary shares in issue:      181,699,852
(500,000 shares were repurchased during the month).

Sector                 % Total   Country               % Total
Analysis                Assets   Analysis               Assets
Base Metals               29.5   South Africa             35.2
Diversified               24.0   Europe                   15.4
Platinum                  17.8   USA                      14.1
Gold                      16.5   Latin America            13.6
Silver/Diamonds            8.9   Canada                   11.7
Industrial Minerals        3.3   Australia                 9.6
Net current assets           -   Africa                    0.4
                                 Net current assets          -
                         -----                           -----
                         100.0                           100.0
                         =====                           =====

Ten Largest Equity Investments
Company          % Investments   Country of Risk
Impala Platinum            9.0   South Africa
Alcoa                      5.8   USA
De Beers Centenary         5.7   South Africa
Minas Buenaventura         5.3   Peru
Anglo American Platinum    5.2   South Africa
Cominco                    4.6   Canada
Phelps Dodge               4.3   USA
Vale Rio Doce              4.2   Brazil
Gold Fields                3.7   South Africa
Billiton                   3.7   UK
                          ----
Total                     51.5
                          ====

Commenting on the markets, Graham Birch, representing the Investment Manager
noted :
August was another good month for the Trust's portfolio both in absolute terms
and relative to benchmark.  Base metals prices improved across a broad front
despite the continuing strength of the dollar.  Inventories of metals again
declined - pointing to a potentially exciting fourth quarter when demand
strengthens seasonally.  Gold was lacklustre, but platinum and palladium
remained firm.

Corporate news was broadly supportive for the sector.  Earnings results from
some of the Trust's largest investments were good.  In particular, we were
very pleased with the strong earnings and dividend performances of our key
platinum investments Impala and Amplats.  These companies have become the
'cashpoint machines' of the industry.

Corporate action continued apace with Noranda and then Billiton bidding for
Rio Algom.  Although we missed out on this bid it is symptomatic of the value
to be had in the sector and the keenness of the big companies to grow through
acquisition.  

It is with great sadness that we inform you of the untimely death of Julian
Baring, a director of this Trust, on September 5th.  It was Julian's drive and
energy which led to the launch of Mercury World Mining back in late 1993. 
After retiring from fund management in 1998, Julian's interest in the Company
never wavered and he remained on the Board providing ideas and encouragement. 
We will very much miss his support.

Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index

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