Asset Analysis

Fleming Mercantile Inv Trust PLC
3 October 2001


ASSET ANALYSIS AS AT 30th September 2001


THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                    % funds as at 30/9/01
UK FTSE 100                                                                  10
UK FTSE 250 (excluding IC's)                                                 64
FTSE Small Cap (excluding IC's)                                              15
IC income and capital shares                                                  0
Other IC's                                                                    0
International equities                                                        0
Cash and FI                                                                  11
                                                                            100