Asset Analysis

Fleming Mercantile Inv Trust PLC
6 November 2003

ASSET ANALYSIS AS AT 31st October 2003

THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                  % funds as at 31/10/03

UK FTSE 100                                                            1
UK FTSE 250 (excluding IC's)                                          74
FTSE Small Cap (excluding IC's)                                       14
IC income and capital shares                                           0
Other IC's                                                             0
International equities                                                 0
Cash and Fixed Interest                                               11
                                                                     100




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