Director Shareholding

Fleming Eur Fledgeling Inv Tst PLC
25 September 2001


SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1.   Name of company:

THE FLEMING EUROPEAN FLEDGELING  INVESTMENT TRUST PLC


2.   Name of director:

E P AIREY

3.   Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest:

NOTIFICATION IN RESPECT OF A DIRECTOR



4.   Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified):

PERSHING SECURITES LTD



5.   Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s):

N/A



6.   Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/
non-discretionary:



PURCHASE OF SHARES BY DIRECTOR



7.   Number of shares/amount of stock acquired:

13,000



8.   Percentage of issued class:



0.02%



9.   Number of shares/amount of stock disposed:



N/A



10.  Percentage of issued class:



N/A



11.  Class of security:



ORDINARY SHARES OF 25p



12.  Price per share:



     154.5p



13.  Date of transaction:


24th SEPTEMBER  2001


14.  Date company informed:



 25th SEPTEMBER  2001



15.  Total holding following this notification:



18,538



16.  Total percentage holding of issued class following this notification:



0.03%


If the company has granted options to a director, please complete boxes 17 to
22 inclusive:



17.   Date of grant:



N/A



18.  Period during which or date on which exercisable:



N/A



19.  Total amount paid (if any) for grant of the option:



N/A



20.    Description of shares or debentures involved, class and number:



N/A



21.     Exercise price (if fixed at time of grant) or indication that price is
to be fixed at time of exercise:



N/A



22.    Total number of shares or debentures over which options held following
this notification:



N/A



23.   Any additional information:


24.   Name of contact and telephone number for queries:



LINDA FIELD  0207-742-3426



25.   Date of notification:


25th SEPTEMBER 2001