Holding in Company

Fleming Mercantile Inv Trust PLC
10 August 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     THE FLEMING MERCANTILE
     INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     LEGAL & GENERAL       6,779,746

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     IN RESPECT OF SHAREHOLDER
     IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     HSBC A/C 775245          3,280,222
     HSBC A/C 252605             96,400
     HSBC A/C 360509             76,172
     HSBC A/C 770286            145,000
     HSBC A/C 866203            104,000
     HSBC A/C 357206          2,984,952
     HSBC A/C 252605             93,000

5)   Number of shares/amount of stock acquired.

        NOT STATED

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

      15,000

8)   (0.011%) of issued Class

9)   Class of security

      ORDINARY SHARES OF 25P

10)  Date of transaction

      08-AUG-00

11)  Date company informed

      10-AUG-00

12)  Total holding following this notification

      6,779,746
               
              
13)  Total percentage holding of issued class following this notification

      4.99%

14)  Any additional information



15)  Name of contact and telephone number for queries

      FRASER EASTON   020 7880 3425

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ....10-AUG-00...............................