Purchase of Own Securities

Fleming Mercantile Inv Trust PLC
22 February 2000


THE FLEMING MERCANTILE INVESTMENT TRUST PLC

REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


The  Fleming  Mercantile Investment Trust  plc
announces that  today in the market they purchased
for cancellation 50,000  ordinary shares at 579.65p
per share representing 0.04% of the ordinary shares
in issue.

The  number  of  shares repurchased to  date  now
totals 4,890,000  representing 3.38% 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 139,618,762

21st  February 2000

For further information, please contact:

Fraser Easton  (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