Performance at Month End

Merrill Lynch World Mining Tst PLC
12 December 2003

 MERRILL LYNCH WORLD MINING TRUST plc

 All information is at 28 November 2003 and unaudited.

 Performance at month end with net income reinvested

                                                                       One      Three        One      Three       Five
                                                                     month     months       year      years      years
Net asset value                                                       2.9%      19.9%      56.4%     122.6%     254.4%
Share price                                                           5.7%      30.1%      76.4%     165.9%     272.4%
HSBC Global Mining Index (capital only)                               2.4%      10.6%      41.2%      52.2%     106.5%

 Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index,
Datastream

At month end
Net asset value:                      218.27p*              Discount to NAV:                                        5.9%
Share price:                          205.50p               Net historic yield:                                     1.0%
Total assets:                         £379.1m
Gearing:                              7.6%                  Effective gearing:                                      9.7%
Ordinary shares in issue:             162,800,000

* includes current year net revenue of 1.93p




Sector                                      % Total          Country                                   % Total Assets
Analysis                                     Assets          Analysis
Diversified                                    35.7          Europe                                              22.5
Base Metals                                    27.2          Canada                                              20.3
Gold                                           21.6          South Africa                                        19.8
Silver/Diamonds                                 7.8          Latin America                                       17.9
Platinum                                        6.6          Australasia                                         11.7
Industrial Minerals                             3.0          China                                                4.3
Physical Metals                                 0.5          USA                                                  3.0
Net current liabilities                         (2.4)        SE Asia                                              2.4
                                                             Metals                                               0.5
                                                             Net current liabilities                               (2.4)
                                              100.0                                                             100.0


Ten Largest Equity Investments
Company                                % of Investments          Country of Risk
Minas Buenaventura                                  7.9          Peru
Rio Tinto                                           6.3          Global
Aber Diamond                                        6.3          Canada
CVRD                                                6.1          Brazil
Impala Platinum                                     5.6          South Africa
BHP Billiton                                        5.1          Global
Alumina                                             4.5          Australia
Gold Fields                                         4.1          South Africa
Falconbridge                                        4.1          Canada
Aluminium Corp of China                             3.7          China
Total                                              53.7



Latest information is available by typing www.mlim.co.uk/its on the internet,
'MLIMINDEX' on Reuters, 'MLIM' on Bloomberg or '8800' on Topic 3 (ICV terminal).

12 December 2003




                      This information is provided by RNS
            The company news service from the London Stock Exchange