Purchase of Own Securities

FLEMING AMERICAN INVESTMENT TRUST PLC
24 August 1999

                          
                          
   REPURCHASE OF ORDINARY SHARES FOR CANCELLATION
                          
The  Fleming American Investment Trust plc announces
that today  in  the  market  they purchased  for
cancellation 25,000  ordinary shares at 667.0p per
share  representing a total of 0.04% of the ordinary
shares in issue.

The  number  of  shares repurchased to  date  now
totals 3,496,564  representing 4.98% 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 70,726,370.

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