Purchase of Own Securities

Fleming Mercantile Inv Trust PLC
17 May 2000

                            
       THE FLEMING MERCANTILE INVESTMENT TRUST PLC
                                                        
     REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming  Mercantile Investment Trust  plc  announces
that   yesterday   in  the  market   it   purchased   for
cancellation 340,000 ordinary shares at 566.32p per share
representing 0.25% of the ordinary shares in issue.

The  number  of  shares repurchased to  date  now  totals
7,260,000  representing 5.02% 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 137,248,762

For further information, please contact:

Fraser Easton  (Company Secretary)
Caroline Henry (Assistant Company Secretary)
Fleming     Investment    Trust    Management     Limited
0207 638 5858

Tom Durie
HSBC Securities - Stockbrokers to the Company
0207 336 2004