New US$24m Loan Agreement

Fleming Emerging Markets Investment Trust PLC
7 January 2000


            The Fleming Emerging Markets Investment Trust

                           Gearing


The  Board  of  The  Fleming Emerging Markets
Investment  Trust  plc announce  that  the Company
has today entered into a  new  agreement with
Robert  Fleming  & Co. Limited to borrow
US$24,000,000  at  a floating rate of interest from
today for a period of three years.

The  proceeds  of  this  loan will be used  to
repay  the  existing £15,000,000  loan  with Robert
Fleming & Co. Limited  which  expires today.


for further information:

Fraser Easton
0171 880 3425