Conversion of Warrants

Fleming Asian Investment Trust PLC
10 November 2000


         THE FLEMING ASIAN INVESTMENT TRUST PLC
                            
                 CONVERSION OF WARRANTS

The  Board  announces that valid applications  have  been
received  for the exercise of 2,572 warrants to subscribe
for  2,572 ordinary shares of 25 pence each. These shares
have been issued today.

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 163,631,943 and  the  number  of
warrants in issue has decreased to 33,274,557.

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


Chase Fleming Asset Management (UK) Limited - Secretary
10th November 2000


For further information, please contact:
Chase Fleming Asset Management (UK) Limited
Fraser Easton/Sharon Boland
020 7742 3274