Change of Adviser

Fleming Mercantile Inv Trust PLC
16 June 2003



                          STOCK EXCHANGE ANNOUNCEMENT

                  THE FLEMING MERCANTILE INVESTMENT TRUST PLC

                               CHANGE OF ADVISER

16 June 2003



The Directors of The Fleming Mercantile Investment Trust plc are pleased to
announce that with immediate effect Close Brothers Securities has been appointed
as joint corporate broker to the Company.  Close Brothers Securities have
replaced HSBC who were previously joint brokers to the Company.



Enquiries:

Craig Cleland, JPMorgan Fleming Asset Management Limited

Tel: [phone]

Tom Durie, Close Brothers Securities

Tel. [phone]


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