Performance at Month End

Mercury Grosvenor Trust PLC
8 November 2000



MERCURY GROSVENOR TRUST plc
All information is at 31st October 2000 and unaudited

Performance at month end with net income reinvested
                       Three      One     Three       Five
                      Months     year     years      years
Net asset value          4.8%    38.4%     85.3%     191.4%
Share price              1.0%    37.0%     95.9%     207.8%
FTSE All-Share Index     1.3%     8.5%     44.4%     104.6%

At month end
Net asset value:*               431.23p
Share price:                    344.00p
Discount:                         20.2%
Total assets:                   £111.8m
Net yield:                         2.3%
Gearing:                           0.0%
Value of debt:                      Nil
Ordinary shares in issue:    25,933,170

*Includes current year net revenue of 15p.

The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.
Unquoted investments were last revalued at 30th June 2000.

UK Sector                    % Portfolio

Support Services                    21.7
Healthcare                          13.8
Pharmaceuticals                     10.6
Overseas Venture Funds               9.1
Property                             4.1
Electronics                          3.6
Information Technology               3.0
Paper, Packaging & Printing          2.9
Distribution                         2.3
Engineering                          2.1
Hotels & Leisure                     2.0
Cash/Fixed Interest                 24.8
                                   _____
                                   100.0

Ten Largest Investments
Company                      % Portfolio       Sector

PII Group                            9.4       Support Services
Alizyme                              7.9       Pharmaceuticals
Tunstall Holdings                    5.5       Healthcare
Braitrim Holdings                    5.1       Support Services
Greycoat Estates                     4.1       Property
Bottomline Technologies              3.6       Electronics
Weston Presidio II                   3.5       Overseas Funds
Orbis                                3.2       Support Services
Weston Presidio III                  2.4       Overseas Funds
Match Holdings                       2.3       Healthcare
                                    ____
                                    47.0

Sources: Merrill Lynch Investment Managers, Standard & Poor's Micropal

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