Holding in Company

Fleming Mercantile Inv Trust PLC
6 February 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

THE FLEMING MERCANTILE INVESTMENT TRUST plc

2)   Name of shareholder having a major interest

JP MORGAN CHASE & CO INC

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

NOT STATED


5)   Number of shares/amount of stock acquired

NOT STATED

6)   Percentage of issued class

NOT STATED

7)   Number of shares/amount of stock disposed

NOT STATED

8)   Percentage of issued class

NOT STATED

9)   Class of security

ORDINARY 25p SHARES


10)  Date of transaction

NOT STATED

11)  Date company informed

31st JANUARY 2001

12)  Total holding following this notification

12,465,813

13)  Total percentage holding of issued class following this notification

9.17%



14)  Any additional information

FOLLOWING THIS NOTIFICATION J P MORGAN CHASE & CO NO

LONGER HAS A NOTIFIABLE INTEREST IN THE COMPANY.

15)  Name of contact and telephone number for queries

FRASER EASTON, 020 7742 3425

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

MARK DEVIN, 020 7742 3406



17)  Date of notification



6TH  FEBRUARY 2001