Directorate Change

Fleming Mercantile Inv Trust PLC
13 November 2002




                          STOCK EXCHANGE ANNOUNCEMENT



                  THE FLEMING MERCANTILE INVESTMENT TRUST PLC

It is with regret that the Board of The Fleming Mercantile Investment Trust plc
announces it has accepted the resignation of The Rt Hon Viscount Younger of
Leckie as a Director on the grounds of ill health.


The Board would like to thank Viscount Younger for his valuable contribution to
the Company during the last eight years.


For further information, please contact

Richard Lewis....................... 020 7742 6000

J.P. Morgan Fleming Asset Management (UK) Ltd - Secretary


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