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Fleming Income (FMIQ)

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Friday 27 August, 1999

Fleming Income

Extract from Chairman's Stmnt

27 August 1999

Statement on liquidity levels - 2000 Portfolio

The  Company  issued its interim statement  on  5th  August,
1999.  The  following  is  an extract  from  the  Chairman's

'The  Board  is  working  towards a smooth  termination  and
repayment of the 2000 shares in April next year and the 2000
portfolio  is  being  progressively  liquidated   to   cash.
Shareholders should recognise that the final entitlement  of
the stepped preference shares and the income 2000 shares  is
£65.4  million and that the Board intends to have raised  at
least this figure in cash by 31st October, 1999.'

Following recent transactions by the investment manager, the
current figure of cash and cash equivalents within the  2000
portfolio is £ 57.5 million.

Craig Cleland -  0171 880 3418
Fleming Investment Trust Management Limited


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