Purchase of Own Securities

FLEMING AMERICAN INVESTMENT TRUST PLC
17 August 1999


REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The Fleming American Investment Trust plc announces that yesterday in the market
they purchased for cancellation 50,000 ordinary shares at 655.0p per share
representing a total of 0.07% of the ordinary shares in issue.

The number of shares repurchased to date now totals 3,446,564 representing 4.90%
of the ordinary shares in issue at the time of commencement of the repurchase
programme.

The remaining number of shares in issue following this purchase is 71,334,510.

For further information, please contact:
Fraser Easton 0171-880-3425
Caroline Henry (Assistant Company Secretary)
Fleming Investment Trust Management Limited    .....0171 638 3425

Angus Gordon Lennox
Cazenove & Co - Stockbrokers to the Company.........0171 588 2828