Dividend Declaration

Fleming Mercantile Inv Trust PLC
06 June 2003




                  THE FLEMING MERCANTILE INVESTMENT TRUST PLC

                             FIRST INTERIM DIVIDEND


The Directors have declared that a first interim dividend of 4.25p (net) per
share (2002: 4.00p) will be paid on 1st August 2003 to shareholders on the
register as at close of business on 4th July 2003 (XD 2nd July 2003).




6th June 2003




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





For further information:




Richard Lewis
J.P. Morgan Fleming Asset Management (UK) Limited ...........020 7742 6000


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