Final Results

Fleming Smaller Co's Inv. Trust PLC
28 September 2000


     THE FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC
                              
                 STOCK EXCHANGE ANNOUNCEMENT
                              
      PRELIMINARY RESULTS FOR THE YEAR TO 31 JULY 2000


The  Fleming  Smaller Companies Investment  Trust  plc  today
announces its preliminary results for the year ended 31  July
2000.

Over  the  period  the Company's net asset  value  per  share
increased  by  46.1% to 366.0 pence, representing  a  healthy
outperformance of the Company's benchmark, the FTSE  SmallCap
Index (Ex IT), which increased by 24.2% over the same period.
The  share price increased by 60.9% to 329.0 pence per  share
as  the discount on the Company's shares narrowed from  18.4%
to 10.1%.

The  Board recommends that a final dividend of 2.3 pence  per
share  (1999:  3.0p),  be  paid  on  30th  November  2000  to
shareholders on the register at the close of business on 27th
October 2000.

Chase Fleming Asset Management (UK) Limited - Secretary

28th September 2000


For further information please contact:
Fraser Easton
Chase Fleming Asset Management (UK) Limited 020 7742 6000



     THE FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC
     UNAUDITED FIGURES FOR THE  YEAR ENDED 31 JULY 2000

                                       2000       1999

                                       £'000     £'000
REVENUE

Income

     Franked dividends                  1,486    1,329
     Foreign income dividends               -       43
     Scrip dividends                       30       54
     Deposit interest                      23       67
     Underwriting commission               26       15
                                        _____    _____
Gross Revenue                           1,565    1,508

Less Management fee                       396      263
     Other administrative expenses        249      144
     Interest payable                     288      260
                                       ______    _____
Return before taxation                    632      841

Less Taxation                               6     (34)
                                        _____    _____

Return available to ordinary shareholders
                                          626      875
                                         ====     ====

Dividend per ordinary share             2.30p    3.00p



                                        2000      1999

                                       £'000     £'000

CAPITAL

     Movements on investments          31,469   13,226
     Less: Expenses charged to Capital    684      523
                                        _____    _____
Return before taxation                 30,785   12,703

     Taxation                               6       11
                                        _____    _____
Return attributable to ordinary
shareholders                           30,791   12,714
                                        =====    =====

Revenue return per ordinary share      2.35 p   3.28 p
Capital return per ordinary share    115.47 p  47.68 p
Total return per ordinary share      117.82 p  50.96 p


At 31 July 2000

Total net assets (£'000)               97,609   66,805
Net Asset Value per Ordinary Share     366.0p   250.5p



     THE FLEMING SMALLER COMPANIES INVESTMENT TRUST PLC
      UNAUDITED FIGURES FOR THE YEAR ENDED 31 JULY 2000
                              
                              
CASH FLOW STATEMENT
                                        2000      1999

                                       £'000     £'000


Net cash inflow from operating
activities                                524      775

Net cash outflow from returns on
investments and servicing of finance    (534)    (533)

Net cash (outflow) / inflow from
capital expenditure and financial
investment                            (5,101)    1,558

Total equity dividends paid on
ordinary shares                         (800)    (693)

Net cash inflow from financing          4,000        -
                                      _______    _____
Decrease)/Increase in cash for the
year                                  (1,911)    1,107
                                      =======    =====


The above financial information does not constitute statutory
accounts as defined in Section 240 of the Companies Act 1985.
The   comparative  financial  information  is  based  on  the
statutory  accounts for the year ended 31st July 1999.  These
accounts,  upon  which  the auditors  issued  an  unqualified
opinion, have been delivered to the Registrar of Companies.

CHASE FLEMING ASSET MANAGEMENT (UK) LIMITED