Payment of Dividend

THE FLEMING MERCANTILE INVESTMENT TRUST PLC
16 July 1999

              SECOND QUARTERLY INTERIM DIVIDEND

The  Directors have declared that a second interim
dividend of   2.70p (net) per share (1998: 2.50p)
will be paid on  1st November,  1999 to ordinary
shareholders on the register  as at close of
business on 15th October, 1999.
16th July, 1999

For further information:

Fraser Easton
Fleming Investment Trust Management
Limited.0171 880 3425