Change in fund manager

Fleming Claverhouse Inv Trust PLC
09 August 2002



                      LONDON STOCK EXCHANGE ANNOUNCEMENT


                  THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC


9 August 2002

The Board of The Fleming Claverhouse Investment Trust plc announces that James
Illsley has been appointed lead investment manager of the Company's portfolio.

Mr. Illsley has 12 years' experience in the investment management industry, of
which the last three have been with JPMorgan Fleming. He has been involved in
the day-to-day management of the Company's assets since May 2000.  Mr. Illsley
will continue to be supported by James Inglis-Jones who has 6 years experience
in the investment management industry and has also been involved in the
day-to-day management of the Company's assets since the beginning of this year.

Both Mr. Illsley and Mr. Inglis-Jones are senior portfolio managers and form
part of an experienced team of 36 investment professionals that are responsible
for managing UK and European Equity portfolios within JPMorgan Fleming Asset
Management. The change in lead investment manager results from Gary West's
decision to leave JPMorgan Fleming for a lifestyle change. Mr. West has been
involved in managing the Company's assets for over 3 years and the Board would
like to thank him for his contribution and wish him well for the future.


J.P. Morgan Fleming Asset Management (UK) Limited - Secretary


For further information, please contact:

Hilary Lowe
Simon Crinage
J.P. Morgan Fleming Asset Management (UK) Limited                020 7742 6000




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