Asset Analysis

Fleming Mercantile Inv Trust PLC
5 August 2003


                      ASSET ANALYSIS AS AT 31st July 2003

                 THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                       % funds as at 31/07/03
UK FTSE 100                                                                 3
UK FTSE 250 (excluding IC's)                                               75
FTSE Small Cap (excluding IC's)                                            15
IC income and capital shares                                                0
Other IC's                                                                  0
International equities                                                      0
Cash and Fixed Interest                                                     7
                                                                          100

                      This information is provided by RNS
            The company news service from the London Stock Exchange