Dividend Declaration

Fleming Mercantile Inv Trust PLC
25 March 2002



                  THE FLEMING MERCANTILE INVESTMENT TRUST PLC



                       FOURTH QUARTERLY INTERIM DIVIDEND



The Directors have declared that a fourth interim dividend of 7.0p (net) per
share (2001: 5.8p) will be paid on 1st May 2002 to ordinary shareholders on the
register as at close of business on 5th April 2002.  This together with the
three quarterly dividends already paid gives a total dividend for the year of
17.5p per ordinary share, which represents an increase of 18.2% over the total
dividends paid last year.



The Directors noted that the Company had received substantial additional revenue
from interest earned on funds on deposit.




25th March 2002



J.P. Morgan Fleming Asset Management (UK) Limited - Secretary




For further information:



Richard Lewis

J.P. Morgan Fleming Asset Management (UK) Limited............020 7742 3477





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