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Fleming Claverhouse (01PH)

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Tuesday 22 August, 2000

Fleming Claverhouse

Interim Results

Fleming Claverhouse Inv Trust PLC
22 August 2000

                          
    THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
                          
       Unaudited results for the six months 
               ended 30th June 2000


The  Directors of the Fleming Claverhouse  Investment
Trust  plc  today announce the Company's results  for
the six months ended 30th June 2000.

In the six months since the end of the financial year
on  31st December 1999, the Company's net asset value
per  share decreased by 4.0% to 512.3 pence  and  the
share  price  by 3.5% to 523.5 pence.  These  results
compare  with  a  decrease of 6.6% in  the  Company's
benchmark, the FTSE All-Share Index.

The  revenue available for ordinary shareholders  was
£2,968,000  (1999: £2,970,000).  The  Directors  have
already  declared a second interim dividend  of  1.70
pence  per  ordinary  share (1999:  1.70p).  This  is
payable  on  1st  September 2000 to  holders  on  the
register at the close of business on 4th August 2000.


Fleming Investment Management Limited - Secretary

22nd August 2000


For further information, please contact:

Jonathan Latter
Fleming Investment Management Limited
020 7638 5858


    THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
      UNAUDITED FIGURES FOR THE HALF YEAR ENDED 
                   30TH JUNE 2000

                                        2000      1999

                                       £'000     £'000

REVENUE

Income

     Franked dividends                  3,823    3,758
     Interest from investments              2        -
     Foreign income dividends               -       41
     Scrip dividends                       34      196
     Deposit interest                     232        8
     Stock lending fees                    10        3
                                        _____    _____
Gross Revenue                           4,101    4,006

Less Management fee                       449      357
     Other administrative expenses        125      155
     Interest payable                     512      522
                                       ______    _____
Return before Taxation                  3,015    2,972

Less Taxation                              47        2
                                        _____    _____
Return available to ordinary            2,968    2,970
shareholders                             ====     ====



                                        2000      1999

                                       £'000     £'000

CAPITAL

     Movements on investments        (13,127)   15,824
     Less: Expenses charged to Capital    834      664
     Less: Finance costs charged to Capital
                                          951      970
                                       ______   ______
Return before Taxation               (14,912)   14,190

     Taxation                              47        2
                                       ______   ______
Return attributable to ordinary       (14,865)  14,192
shareholders                            =====    =====

Dividends per ordinary share            3.40p    3.40p
Cost of dividends per ordinary share (£'000)
                                        2,305   2,134


Revenue return per ordinary share      4.53 p   4.76 p
Capital return per ordinary share   (22.60) p  22.73 p
Total return per ordinary share     (18.13) p  27.49 p


At 30 June 2000

Total Net Assets (£'000)              352,521  288,470
Net Asset Value per Ordinary Share    512.3 p  459.7 p




    THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
 UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE
                        2000
                          
                          
CASH FLOW STATEMENT
                                        2000      1999

                                        £'000     £'000


Net cash inflow from operating activities
                                        2,505    2,458

Net cash outflow from returns on 
investments and
servicing of finance                   (1,451)  (1,482)

Net cash (outflow)/inflow from capital
 expenditure
and financial investment               (14,186)  1,492

Total equity dividends paid             (2,531) (2,708)

Net cash inflow from financing          24,496     201
                                        _____    _____
Increase/(decrease) in cash in the 
period
                                        8,833     (39)
                                        =====     ====


                                                                                
                                                                                
                                                                    

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