Holding(s) in Company

Fleming Mercantile Inv Trust PLC
24 February 2004

                                  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

STANDARD LIFE INVESTMENTS

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

STANLIFE NOMINEES LIMITED




5)   Number of shares/amount of stock acquired

N/A

6)   Percentage of issued class

N/A

7)   Number of shares/amount of stock disposed

1,820,000

8)   Percentage of issued class

NOT STATED

9)   Class of security

ORDINARY 25p SHARES


10)  Date of transaction

19TH FEBRUARY 2004

11)  Date company informed

23RD FEBRUARY 2004

12)  Total holding following this notification

2,964,702

13)  Total percentage holding of issued class following this notification

2.18 %



14)  Any additional information

 FOLLOWING THIS ANNOUNCEMENT THE ABOVE MENTIONED COMPANY NO LONGER HAS A
NOTIFIABLE

HOLDING IN THE FLEMING MERCANTILE INVESTMENT TRUST PLC

15)  Name of contact and telephone number for queries

RICHARD LEWIS, 020 7742 3477

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

HELEN WALKER 0207-742-3453



17) Date of notification



24TH FEBRUARY 2004














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