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Fleming Income (FMIQ)

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Wednesday 21 July, 1999

Fleming Income

Interim Results

FLEMING INCOME & GROWTH INVESTMENT TRUST PLC
21 July 1999


The Fleming Income & Growth Investment Trust plc

                  Unaudited interim results for the
                  six months to 30th June, 1999
                  

The  Board  of Fleming Income & Growth  has  today
announced  the unaudited interim results  for  the
six months to 30th June, 1999.

Total shareholder funds as at 30th June, 1999 were
£330.5m  (1998: £320.4m). The net asset value  per
share  for  each class of share in issue  were  as
follows;

                      30th Jun,1999  31st Dec,1998
Stepped Preference Share  184.08p     179.59p
Income 2000 Share          97.69p      96.39p
Income 2006 Share          50.65p       n/a
Capital 2000 Share
(Diluted)                 416.44p     394.75p
Capital 2006 Share
(Diluted)                 530.14p       n/a

Combined  earnings per income share  for  the  six
months  to 30th June, 1999 were 6.39p compared  to
5.14p for the comparable period last year.

The Directors have decided to recommend an interim
dividend  of  2.25p (net) per income share  (1998:
2.25p net), payable on 1st October 1999 to holders
of  income  2000  shares, income 2006  shares  and
unitholders  on  the  register  at  the  close  of
business on 6th September 1999.  Together with the
interim  dividend of 2.25p (net) paid on 1st  July
1999, this brings the total dividend for the  year
to date to 4.50p (net) per income share.

The   Directors  have  today  also declared  that an
interim dividend  of  3.7713p  (net)  be  paid on
the stepped preference  shares. This payment will
be  made  on  29th October, 1999 to shareholders on
the register as at 1st October 1999.



Heather Williams
Fleming  Investment  Trust  Management  Limited
Secretary....0171 880 3459
21st July, 1999


THE FLEMING INCOME & GROWTH INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF-YEAR ENDED 30TH JUNE 1999

                             1999        1998
                             £'000       £'000
REVENUE

Income

Franked dividends            5,967       5,072
Unfranked dividends            313          -
Interest from investments    1,299         484
Foreign income dividends       259       1,458
Scrip dividends                 89         151
Call option income             235          -
Deposit interest               231         478
Trustees fees                   -            3
                              _____         _____
Gross Revenue                8,393       7,646

Less Administration
expenses                       669         610
Interest payable               328         416
                            ______         _____
Return before Taxation       7,396        6,620

Less Taxation                  856        1,063
                              _____       _____
Return after Taxation        6,540        5,557

Dividends on preference
shares                          35           26
Dividends on stepped
preference shares            1,239        1,394
                             ____       _____
Return available to income
shareholders                 5,266        4,137
                             ====         ====

CAPITAL


Gross return                16,727       37,079
Less: Expenses charged
to Capital                     336         305
Less: Interest charged
to Capital                     217          -
                            ______       ______
Return before Taxation      16,174      36,774



Taxation                        61          39
                               ______   ______
Return available to income
and capital shareholders    16,235      36,813
                             =====      =====

Dividends per income share
- 2000 & 2006                4.50p        4.50p
Combined revenue return per
income share - 2000 & 2006   6.39p        5.14p
Capital return per
income share - 2000          2.31p        2.31p
Capital return per
income share - 2006          0.65p          -
At 30 June 1999
Total Net Assets (£'000)    330,470     320,377 Net
Asset Value per stepped
preference share            184.08p     175.31p
Net Asset Value per
income share - 2000          97.69p      95.64p Net
Asset Value per
income share -2006           50.65p         Net
Asset Value per
capital share - 2000 (fully
diluted)                    416.44p     394.75p Net
Asset Value per
capital share - 2006        530.14p         -

The   above   financial   information   does   not
constitute   statutory  accounts  as  defined   in
Section  240 of the Companies Act1985.  Statutory
accounts  for  the year ended 31st  December  1998
have been delivered to the Registrar of Companies.


FLEMING INVESTMENT TRUST MANAGEMENT LIMITED


                   

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