Currency Hedge

Fleming Japanese Inv Trust PLC
28 November 2000


                               
                  STOCK EXCHANGE ANNOUNCEMENT
           THE FLEMING JAPANESE INVESTMENT TRUST PLC
                               
                        CURRENCY HEDGE


28th November 2000


The  Board of the Company announce that a 12 month forward sale
of Yen against Sterling has today been initiated which is equal to
approximately 5% 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.



HJ Williams
For and on behalf of
Chase Fleming Asset Management (UK) Limited - Secretary



For further information:

Stephen Mitchell or Heather Williams

Chase Fleming Asset Management (UK)Limited.......... 020 7742 6000