Asset Analysis

Fleming US Discovery Inv Trust PLC
4 January 2002

ASSET ANALYSIS AS AT 31st December 2001

THE FLEMING US DISCOVERY INVESTMENT TRUST plc

                                                         % funds as at 31/12/01
UK                                                                            0
S&P 500                                                                       0
Other US equities                                                            94
Other equities                                                                0
US bonds                                                                      0
CFI                                                                           6
                                                                            100