Dividend Declaration

Fleming Mercantile Inv Trust PLC
24 May 2001




                 THE FLEMING MERCANTILE INVESTMENT TRUST PLC



                            FIRST INTERIM DIVIDEND




The Directors have declared that a first interim dividend of 3.50p (net) per
share (2000: 3.00p) will be paid on 1 August 2001 to shareholders on the
register as at close of business on 6th July 2001. (XD 4th July 2001).




24th May 2001




JP Morgan Fleming Asset Management (UK) Limited - Secretary





For further information:



Richard Lewis

JP Morgan Fleming Asset Management (UK) Limited ................. 020 7742 6000