Purchase of Own Securities

Fleming Mercantile Investment Trust PLC
19 November 1999

                                                        
     REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming  Mercantile Investment Trust  plc  announces
that  today in the market they purchased for cancellation
150,000  ordinary  shares at 474p per share  representing
0.1% of the ordinary shares in issue.

The  number  of  shares repurchased to  date  now  totals
2,585,000  representing 1.78% of the ordinary  shares  in
issue  at  the  time  of commencement of  the  repurchase
programme.

The  remaining  number of shares in issue following  this
repurchase is 141,923,762

For further information, please contact:

Liz Hayman  (Company Secretary)
Caroline Henry (Assistant Company Secretary)
Fleming Investment Trust Management Limited
0171 638 5858

Tom Durie
HSBC Securities - Stockbrokers to the Company
0171 336 2004