Performance at Month End

Mercury World Mining Trust PLC
10 May 2000


All information is at 30th April 2000 and unaudited.

Performance at month end with net income reinvested
                          One     Three     One     Three      Five  
                        Month    Months    Year     Years     Years     
Net asset value          -7.1%    -16.9%    3.7%    -10.3%      5.4%         
Share price              -7.8%    -20.7%   -0.6%    -15.2%     -9.4%          
 HSBC Global Mining
 Index (Capital Only)    -4.4%    -11.9%   -5.6%    -19.7%    -18.8%       

At month end
Net asset value  91.99p xd including current year net revenue of 0.63p
Share price:     73.50p    Discount to NAV:                      20.1%
                           Net yield:                             1.6%
Total assets:   £186.4m
Gearing:          11.0%  
Ordinary shares in issue:  182,699,852
(1,000,000 shares were repurchased and cancelled during the month).

Sector                 % Total   Country               % Total
Analysis                Assets   Analysis               Assets
Base Metals               36.0   South Africa             30.2
Diversified               20.2   Latin America            18.6
Gold                      18.1   USA                      17.8
Platinum                  14.2   Europe                   16.6
Silver/Diamonds            8.5   Canada                   10.2
Industrial Minerals        4.7   Australia                 7.0 
Net current liabilities   (1.7)  Africa                    1.3
                                 Net current liabilities  (1.7) 
                         -----                           -----
                         100.0                           100.0
                         =====                           =====

Ten Largest Equity Investments
Company          % Investments     Country of Risk    
Impala Platinum            7.2     South Africa
Minas Buenaventura         6.5     Peru
Alcoa*                     5.2     USA
De Beers Centenary         5.0     South Africa
Cominco                    4.7     Canada
Billiton                   4.4     UK
Phelps Dodge               4.1     USA
Rio Tinto                  3.9     UK
Harmony Gold               3.7     South Africa
Vale Rio Doce              3.7     Brazil
                          ----
Total                     48.4
                          ====
* Since the month end Alcoa has merged with Reynolds, also held within the
Trust. This new company now forms the Trust's largest holding with 8.6% of
total assets.
 
Sources: Mercury Asset Management Ltd, HSBC Global Mining Index

Latest information is available by typing 'MAMINDEX' on Reuters, 'MAMI' on
Bloomberg or '8800' on Topic 3 (ICV terminal).