Dispersed interferometer fringes as a new type of signal are currently under discussion for several space interferometry mission projects (GAIA, FAME, DIVA). The dispersed fringes are directly recorded by CCD mosaics whichare operated in drift-scan mode on board a continuously rotating satellite. They allow combined astrometric (perpendicular to the fringes, i.e. in the direction of the drift scan) and spectro-photometric measurements (in the direction of the dispersion of the fringes, i.e. perpendicular to the drift scan). We have simulated polychromatic dispersed fringe patterns of stars with known spectra. The specific instrument parameters used for the simulation are those envisaged for the DIVA instrument, with realistic assumptions on various noise contributions. The results can be scaled to GAIA and FAME instrument parameters. We have investigated simple algorithms which can be implemented in an on-board data reduction and used for the real-time attitude determination with bright and single stars. On the preliminary basis of 100 simulations per star of a given magnitude and spectral type, we have obtained first estimates of the achievable accuracy of the astrometric measurements and of the location of the photometric zero point λo.