Asset Analysis

Fleming American Inv Trust PLC
4 January 2002

       ASSET ANALYSIS AS AT 31st December 2001


THE FLEMING AMERICAN INVESTMENT TRUST plc

                                                         % funds as at 31/12/01
UK                                                                            0
S&P 500                                                                      69
Other US equities                                                            24
Other equities                                                                0
US bonds/fixed interest                                                       3
Cash and non-fixed interest                                                   4
                                                                            100