Performance to month end

Merrill Lynch UK Inv Tst PLC
15 March 2001


MONTHLY PERFORMANCE

MERRILL LYNCH UK INVESTMENT TRUST plc

All information is at 28 February 2001 and unaudited.

Performance at month end with net income reinvested
                      One month  Three months One year  Three years  Five years
Net asset value           -8.1%         -2.9%    -0.3%         4.3%       64.6%
Share price               -6.5%         -1.9%    17.0%        -5.2%       51.4%
FTSE All-Share Index      -5.1%         -2.1%    -1.9%        15.0%       78.7%


At month end
Net asset value*                                          1144.79p
Share price                                               1057.50p
Discount                                                  7.6%
Total assets                                              £201.1m
Net Yield                                                 2.8%
Gearing:                                                  24.5%
Effective gearing of Company                              24.6%
Value of debt:                                            £40.0m
Ordinary shares in issue                                  14,093,562

(There were no share repurchases during the month)

*Includes current year net revenue of 4.05p.
UK Sectors                                                          % Portfolio
Financials                                                                 33.2
Cyclical Services                                                          18.1
Non-Cyclical Services                                                      16.7
Non-Cyclical Consumer Goods                                                11.6
Resources                                                                   8.8
General Industrials                                                         3.8
Utilities                                                                   3.3
Information Technology                                                      2.4
Basic Industries                                                            2.2
Net current liabilities                                                   (0.1)

Total                                                                     100.0

Ten Largest Equity Investments                                 % of Investments
Vodafone                                                                    7.4
GlaxoSmithKline                                                             7.0
BP Amoco                                                                    5.8
Barclays                                                                    4.9
AstraZeneca                                                                 4.6
HSBC                                                                        3.8
British Telecom                                                             3.5
Royal Bank of Scotland                                                      3.4
Shell Transport and Trading Co                                              3.0
Royal & Sun Alliance                                                        2.9

Total                                                                      46.3



Sources: Merrill Lynch Investment Managers, Standard & Poor's Micropal

Latest information is available by typing 'www.mlim.co.uk/its' on the
internet, 'MLIMINDEX' on Reuters and 'MLIM' on Bloomberg or '0800' on Topic 3
(ICV terminal).

15 March 2001

ENDS