Currency Hedge

Fleming Japanese Inv Trust PLC
24 November 2000



                    THE FLEMING JAPANESE INVESTMENT TRUST PLC
                              CURRENCY HEDGE

The Board of the Company announce that a 12 month forward sale of Yen against £
has today been initiated which is equal to 15% of gross assets.

This hedge has been initiated to protect shareholders against any downward move
in the yen caused by current political and economic uncertainties in Japan.  On
a trade weighted basis the yen has been excessively strong.


Contact:

Stephen Mitchell or Heather Williams
Tel:  [phone]