Conversion of Warrants

Fleming Asian Investment Trust PLC
9 August 2000


       THE FLEMING ASIAN INVESTMENT TRUST PLC
                          
               CONVERSION OF WARRANTS


The  Board  announces that valid  applications  have
been received for the exercise of 2,220 warrants  to
subscribe  for  2,220 ordinary shares  of  25  pence
each. These shares were issued yesterday.

A  block  listing  application  sufficient  for  the
listing of any shares issued by the Company pursuant
to the exercise of warrants was granted by the Stock
Exchange in February 1998.

Following this issue of shares, the number of shares
in issue has increased to 163,629,110 and the number
of warrants in issue has decreased to 33,277,390.

These  shares  are being issued as a result  of  the
exercise  of warrants and will rank pari passu  with
the existing ordinary shares.


Fleming Investment Trust Management Limited -
Secretary

For further information, please contact:
Fleming Investment Trust Management Ltd
Fraser Easton/Sharon Boland
020 7880 3425