Exercise of Warrants

Merrill Lynch World Mining Tst PLC
03 May 2005


MERRILL LYNCH WORLD MINING TRUST PLC

3 May 2005


Exercise of Warrants

The Board of Merrill Lynch World Mining Trust plc announces that, following the
warrant exercise date on 29 April 2005, 5,498,906 new ordinary shares of 5p each
have been allotted with effect from 3 May 2005.

Following this exercise the total issued share capital has increased to
168,298,906 ordinary shares.   Pursuant to the terms of the warrant particulars,
The Law Debenture Trust Corporation plc has been appointed to act as warrant
trustee in respect of the remaining 27,060,658 warrants.

Application has been made for 5,498,906 ordinary shares to be admitted to the
Official List in due course and dealings on the London Stock Exchange are
expected to commence on 16 May 2005.

For further details please contact:

Caroline Driscoll
Secretary
Merrill Lynch Investment Managers Group Services Limited
Tel: [phone]

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