Asset Analysis

Fleming Mercantile Inv Trust PLC
4 April 2003


ASSET ANALYSIS AS AT 31th March 2003


THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                          % funds as at 31/03/03
UK FTSE 100                                                                    1
UK FTSE 250 (excluding IC's)                                                  67
FTSE Small Cap (excluding IC's)                                               13
IC income and capital shares                                                   0
Other IC's                                                                     0
International equities                                                         0
Cash and Fixed Interest                                                       19
                                                                             100



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