Asset Analysis

Fleming Mercantile Inv Trust PLC
5 December 2001



ASSET ANALYSIS AS AT 30th November 2001


THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                         % funds as at 30/11/01
UK FTSE 100                                                                   5
UK FTSE 250 (excluding IC's)                                                 69
FTSE Small Cap (excluding IC's)                                              16
IC income and capital shares                                                  0
Other IC's                                                                    0
International equities                                                        0
Cash and FI                                                                  10
                                                                            100