Currency Hedge

Fleming Asian Investment Trust PLC
31 July 2001


                      LONDON STOCK EXCHANGE ANNOUNCEMENT


                    THE FLEMING ASIAN INVESTMENT TRUST PLC

                                CURRENCY HEDGE


The Company announces that 3-month forward sale of Singapore Dollars against £
was initiated yesterday which was equal to approximately 4.5% of gross assets.


31st July 2001


Fraser Easton
For and on behalf of
JP Morgan Fleming Asset Management (UK) Limited - Secretary


For further information:



Fraser Easton

JP Morgan Fleming Asset Management (UK) Limited               020 7742 6000