Sector/Geographical Breakdown

Fleming Mercantile Inv Trust PLC
12 March 2002




       SECTOR/GEOGRAPHIC BREAKDOWN BY % AND TEN
         LARGEST INVESTMENTS, February 2002



THE FLEMING MERCANTILE INVESTMENT TRUST plc

                                                                                      %
BY SECTOR

Cyclical Services                                                                   29.4
Financials                                                                          17.4
Basic Industries                                                                    17.6
Assets/Liabilities                                                                  10.0
General Industrials                                                                  3.3
Utilities                                                                            3.8
Information Technology                                                               5.1
Non Cyclical Consumer Goods                                                          4.9
Non Cyclical Services                                                                3.1
Resources                                                                            2.3
Fixed Interest                                                                       0.5
Cyclical Consumer Goods                                                              2.5
Total                                                                                100


BY TERRITORY                                                                          %

Untied Kingdom                                                                      89.1
Assets/Liabilities                                                                  10.0
Eire                                                                                 0.7
Israel                                                                               0.2

Total                                                                                100


TEN LARGEST INVESTMENTS

United Business                                                                      1.9
P&O                                                                                  1.7
Rank                                                                                 1.7
Haywood Williams                                                                     1.5
British Land                                                                         1.4
EMAP                                                                                 1.4
Associated British Ports                                                             1.4
London Stock Exchange                                                                1.4
Johnston Matthey                                                                     1.3
Bradford & Bingley                                                                   1.3

Total                                                                               15.0

                      This information is provided by RNS
            The company news service from the London Stock Exchange