Dividend Declaration

Fleming Mercantile Inv Trust PLC
01 April 2004





                  THE FLEMING MERCANTILE INVESTMENT TRUST PLC


                           FOURTH QUARTERLY DIVIDEND


The Directors have declared that a fourth quarterly dividend of 6.0p per share
will be paid on 4th May 2004 to shareholders on the register as at close of
business on 13th April 2004 (XD 11th April 2004).



1st April 2004



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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