Asset Analysis

Fleming Mercantile Inv Trust PLC
4 September 2003

ASSET ANALYSIS AS AT 31st August 2003


THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                             % funds as at 31/08/03
UK FTSE 100                                                                             1
UK FTSE 250 (excluding IC's)                                                           76
FTSE Small Cap (excluding IC's)                                                        15
IC income and capital shares                                                            0
Other IC's                                                                              0
International equities                                                                  0
Cash and Fixed Interest                                                                 8
                                                                                      100



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