Issue of Debt

Fleming Mercantile Inv Trust PLC
15 February 2001


For immediate release

15 February 2001


The Fleming Mercantile Investment Trust plc

Further issue of £75,000,000 6.125 per cent. Secured Bonds due 2030

Further to today's earlier press release:

-- the issue price of the Further Tranche is £99.473 per £1,000 nominal of
Secured Bonds, excluding accrued interest



-- at the issue price, the gross redemption yield on the Further Tranche is
6.164 per cent. semi-annual.



For further information, please contact:



On behalf of the Company       Fraser Easton ............... 020 7742 6000

Cazenove & Co.                 Francis Burkitt ............. 020 7825 9942



In connection with the issue of the Further Tranche, Cazenove & Co. may
over-allot or effect transactions which stabilise or maintain the market price
of the existing secured bonds or the Further Tranche at a level which might
not otherwise prevail.  Such stabilising, if commenced, may be discontinued at
any time.