Dividend Declaration

Fleming Mercantile Inv Trust PLC
21 March 2001


                 THE FLEMING MERCANTILE INVESTMENT TRUST PLC

                      FOURTH QUARTERLY INTERIM DIVIDEND

The Directors have declared that a fourth interim dividend of 5.6p (net) per
share (2000: 4.20p) will be paid on 1st May 2001 to ordinary shareholders on
the register as at close of business on 6th April 2001.  This together with
the three quarterly dividends already paid gives a total dividend for the year
of 14.6p per ordinary share, which represents an increase of 18.7% over the
total dividends paid last year.



21st March 2001
Chase Fleming Asset Management (UK) Limited - Secretary


For further information:

Fraser Easton

Fleming Investment Trust Management Limited..................0171 880 3425