Final Results

Fleming Asian Investment Trust PLC
28 November 2001


                    THE FLEMING ASIAN INVESTMENT TRUST PLC



28th November 2001

The Company today announces its unaudited results for the year to 30 September
2001.

The Company's fully diluted net asset value per ordinary share in sterling
terms fell by 33.8% (capital only) over the year to 30 September 2001 slightly
outperforming the Company's benchmark, the Morgan Stanley Composite Asia Free
Index ex Japan in sterling terms, which fell by 35.3% over the same period.

Over this period the ordinary share price fell by 40.0% as the discount at
which the Company trades to its fully diluted net asset value increased from
9.0% to 17.5%.

The Directors are not recommending a dividend payment for the current year.




For further information:

Fraser Easton.............................................020 7742 6000
For and on behalf of
JP Morgan Fleming Asset Management (UK) Limited


THE FLEMING ASIAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE YEAR ENDED 30th  SEPTEMBER 2001


                                                               2001        2000
                                                              £'000       £'000
REVENUE


Income

Franked dividends                                                41         132
Overseas dividends                                            2,620       2,597
Scrip dividends                                                 164         198
Deposit interest                                                880         460
Stock lending fees                                                -          22
                                                            _______     _______
Gross Revenue                                                 3,705       3,409

Less:
Management fee                                                1,212       1,426
Other administrative expenses                                   361         455
Interest payable                                              1,558       1,977
                                                            _______     _______
Return before Taxation                                          574       (449)

Less:  Taxation                                                 218         134
                                                            _______     _______
Return available to ordinary shareholders                       356       (583)


                                                               2001        2000
CAPITAL

                                                            _______     _______
Return attributable to ordinary shareholders               (62,729)      48,686
                                                              =====       =====

Revenue return per ordinary share                             0.22p     (0.36)p
Capital return per ordinary share                          (38.34)p      29.76p
Total return per ordinary share                            (38.12)p      29.40p
                                                              =====       =====



THE FLEMING ASIAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE YEAR ENDED 30th SEPTEMBER 2001


BALANCE SHEET
                                                                  2001     2000
                                                                 £'000    £'000

Investments at valuation                                       110,451  192,593


Net current assets                                              10,375   20,637

Total assets less current liabilities                          120,826  213,230

Creditors: amounts falling due after one year                        - (30,000)

                                                               _______  _______
Total net assets                                               120,826  183,230
                                                                 =====    =====
Undiluted net asset value per ordinary share                     73.9p   112.0p

Fully diluted net asset value per share                          73.9p   111.6p

CASH FLOW STATEMENT
                                                                  2001     2000
                                                                 £'000    £'000

Net cash inflow from operating activities                        1,842      850

Net cash outflow from returns on investments and servicing of  (2,075)  (2,535)
finance

Total taxation (paid)/ recovered                                  (12)      335

Net cash inflow/(outflow) from capital expenditure and          23,259  (2,857)
financial investment

Net cash (outflow)/inflow from financing                      (30,031)   20,021
                                                               _______   ______
(Decrease)/Increase in cash for the period                     (7,017)   15,814
                                                                 =====     ====


The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985.  The comparative financial
information is based on the statutory accounts for the year ended 31st
September 2000.  These accounts, upon which the auditors issued an unqualified
opinion, have been delivered to the Registrar of Companies.



JP MORGAN FLEMING ASSET MANAGEMENT (UK) LIMITED

28th November 2001