Holding(s) in Company

Fusion Oil & Gas PLC
5 September 2002

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     FUSION OIL & GAS PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     THE FLEMING MERCANTILE INVESTMENT TRUST PLC

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     CHASE NOMINEES CMBFLEM ACCOUNT

5)   Number of shares/amount of stock acquired.

          
6)   (N/A%) of issued Class

7)   Number of shares/amount of stock disposed

     NOT DISCLOSED

8)   (%) of issued Class

     NOT DISCLOSED

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

     NOT DISCLOSED

11)  Date company informed

     5 SEPTEMBER 2002

12)  Total holding following this notification


                    
13)  Total percentage holding of issued class following this notification

     BELOW 3%

14)  Any additional information



15)  Name of contact and telephone number for queries

     R.G. GODSON - 020 7495 5916

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification      5 SEPTEMBER 2002



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            The company news service from the London Stock Exchange