Purchase of Own Securities

Fleming Mercantile Investment Trust PLC
5 May 2000


REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming  Mercantile Investment Trust  plc
announces that   yesterday   in  the  market   it
purchased   for cancellation  850,000 ordinary
shares at 575p  per  share representing 0.61% of the
ordinary shares in issue.


The  number  of  shares repurchased to  date  now
totals 6,920,000  representing 4.79% 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 137,588,762

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