Asset Analysis

Fleming Mercantile Inv Trust PLC
8 January 2003


ASSET ANALYSIS AS AT 31st December 2002

THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                      % funds as at 31/12/02
UK FTSE 100                                                                2
UK FTSE 250 (excluding IC's)                                              72
FTSE Small Cap (excluding IC's)                                           12
IC income and capital shares                                               0
Other IC's                                                                 0
International equities                                                     0
Cash and FI                                                               14
                                                                         100

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