Performance at Month End

Merrill Lynch World Mining Tst PLC
17 November 2004


 MERRILL LYNCH WORLD MINING TRUST plc

 All information is at 31 October 2004 and unaudited.

 Performance at month end with net income reinvested

                                              One      Three        One      Three       Five
                                            month     months       year      years      years

Net asset value (undiluted)                 -2.0%      14.2%      10.5%     123.2%     151.1%
Net asset value (diluted)                   -1.7%      13.1%          -          -          -
Share price*                                -4.2%       5.2%       4.3%     141.3%     158.1%
HSBC Global Mining Index                    -2.9%      11.7%      10.2%      72.5%      87.3%

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

*Performance includes the warrant reinvestment, assuming the bonus warrant
entitlement per share was sold and reinvested on the first day of trading.

At month end

Net asset value
Undiluted:                          232.69p         Includes net revenue of:                                     2.87p
Fully diluted:                      230.41p
Share price:                        198.75p         Discount to diluted NAV:                                     13.7%
Warrant price:                        9.00p         Net yield:                                                    0.9%
Total assets:                       £390.9m
Gearing:                               4.5%
Ordinary shares in issue:                      162,800,000
Warrants in issue:                              32,559,564



Sector                               % Total Assets            Country                               % Total Assets
Analysis                                                       Analysis
Diversified                                    46.5            Latin America                                   22.7
Base Metals                                    23.7            Global                                          19.0
Gold                                           14.3            Canada                                          16.1
Silver/Diamonds                                 6.2            South Africa                                    13.3
Platinum                                        5.8            Australasia                                     11.9
Industrial Minerals                             3.9            China                                            5.7
Other                                           1.2            Europe                                           4.4
Net current liabilities                         (1.6)          Other Africa                                     2.7
                                                               USA                                              2.6
                                                               India                                            1.8
                                                               Laos                                             1.0
                                                               Indonesia                                        0.4
                                                               Net current liabilities                        (1.6)
                                              100.0                                                           100.0

Ten Largest Equity Investments

Company                           % of Total Assets          Region of Risk
CVRD                                            8.6          Latin America
Rio Tinto                                       7.3          Global
Minas Buenaventura                              6.4          Latin America
BHP Billiton                                    6.4          Global
Falconbridge                                    5.3          Canada
Impala Platinum                                 4.9          South Africa
Aber Diamond                                    4.3          Canada
WMC                                             4.3          Australia
Alumina                                         4.0          Canada
Xstrata                                         3.9          Global
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).

17 November 2004


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