Performance at Month End

Merrill Lynch World Mining Tst PLC
11 February 2005

 MERRILL LYNCH WORLD MINING TRUST plc

 All information is at 31 January 2005 and unaudited.

 Performance at month end with net income reinvested

                                                                       One      Three        One      Three       Five
                                                                     month     months       year      years      years
Net asset value (undiluted)                                           1.1%       6.6%      13.6%      92.0%     136.8%
Net asset value (diluted)                                             1.0%       5.6%          -          -          -
Share price*                                                          0.2%       9.9%      14.2%     111.6%     154.4%
HSBC Global Mining Index                                              1.3%       4.8%      13.8%      48.0%      83.6%

 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:                          248.15p         Includes net revenue of:                                     2.87p
Fully diluted:                      243.29p
Share price:                        218.50p         Discount to diluted NAV:                                     10.2%
Warrant price:                        8.75p         Net yield:                                                    0.8%
Total assets:                       £419.2m
Gearing:                               5.0%
Ordinary shares in issue:                      162,800,000
Warrants in issue:                              32,559,564




Sector                               % Total Assets            Country                               % Total Assets
Analysis                                                       Analysis
Diversified                                    50.4            Latin America                                   24.2
Base Metals                                    22.9            Global                                          20.8
Gold                                           10.9            Canada                                          14.8
Silver/Diamonds                                 5.7            Australasia                                     12.8
Industrial Minerals                             5.5            South Africa                                    10.7
Platinum                                        5.2            Europe                                           4.8
Other                                           1.0            China                                            4.1
Net current liabilities                         (1.6)          USA                                              3.3
                                                               Other Africa                                     2.9
                                                               India                                            2.1
                                                               Laos                                             0.9
                                                               Indonesia                                        0.2
                                                               Net current liabilities                        (1.6)
                                              100.0                                                           100.0
Ten Largest Equity Investments
Company                           % of Total Assets          Region of Risk
CVRD                                           10.8          Latin America
Rio Tinto                                       8.4          Global
BHP Billiton                                    7.1          Global
Minas Buenaventura                              5.0          Latin America
Impala Platinum                                 4.7          South Africa
Falconbridge                                    4.6          Canada
Alumina                                         4.2          Australia
Aber Diamond                                    3.8          Canada
Teck Cominco                                    3.8          Canada
Xstrata                                         3.5          Global
Total                                          55.9


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).



11 February 2005








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