Performance at Month End

Merrill Lynch World Mining Tst PLC
15 May 2003

MERRILL LYNCH WORLD MINING TRUST plc

All information is at 30 April 2003 and unaudited.

Performance at month end with net income reinvested

                                                                       One      Three        One      Three       Five
                                                                     month     months       year      years      years

Net asset value                                                       2.5%      -3.7%     -10.0%      57.3%      80.1%
Share price                                                          -3.8%      -5.5%     -15.2%      66.2%      76.9%
HSBC Global Mining Index (capital only)                               2.0%       1.1%     -18.7%      13.4%      12.3%
MSCI World Metals & Mining Index (capital only)                       3.8%       4.9%     -21.1%     -10.5%     -12.1%

Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index, Datastream

At month end

Net asset value:                      138.02p*              Discount to NAV:                                       16.3%
Share price:                          115.50p               Net historic yield:                                     1.8%
Total assets:                         £222.9m
Gearing:                              Nil                   Effective gearing:                                      0.7%
Ordinary shares in issue:             162,800,000

* includes current year net revenue of 1.10p



Sector Analysis                             % Total          Country Analysis                          % Total Assets
                                             Assets

Diversified                                    36.1          Europe                                              23.5
Gold                                           25.5          South Africa                                        23.3
Base Metals                                    18.7          Australasia                                         16.4
Platinum                                        8.3          Canada                                              15.4
Silver/Diamonds                                 7.0          Latin America                                       15.3
Industrial Minerals                             5.1          China                                                3.3
Net current liabilities                       (0.7)          USA                                                  3.0
                                                             Vietnam                                              0.5
                                                             Net current liabilities                            (0.7)

                                              100.0                                                             100.0


Ten Largest Equity Investments

Company                                 % of Investments          Country of Risk

BHP Billiton                                         7.1          Global
Gold Fields                                          7.1          South Africa
Minas Buenaventura                                   7.0          Peru
Impala Platinum                                      5.9          South Africa
Rio Tinto                                            5.3          Global
Aber Diamond                                         5.3          Canada
CVRD                                                 5.1          Brazil
Harmony Gold Mining                                  4.6          South Africa
MIM Holdings                                         4.0          Australia
Falconbridge                                         4.0          Canada

Total                                               55.4


Latest information is available by typing www.mlim.co.uk/its on the internet,
'MLIMINDEX' on Reuters, 'MLIM' on Bloomberg or '8800' on Topic 3 (ICV terminal).


15 May 2003


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