Final Results

Fleming American Inv Trust PLC
1 March 2001


                  THE FLEMING AMERICAN INVESTMENT TRUST PLC

                         STOCK EXCHANGE ANNOUNCEMENT



           Unaudited Results for the year ended 31st December, 2000

1st March 2001,

The Fleming American Investment Trust plc today announced its unaudited
results for the year ended 31st December 2000.

The net asset value per ordinary share increased by 5.9% over the period to
880.0p as at 31st December 2000, compared with the S&P 500 Composite Index, in
Sterling terms, which decreased by 3.0%.

Over the same period the ordinary share price increased by 19.3% as the
discount at which the ordinary share trade to the net asset value decreased
from 11.6% to 0.4%.

The Directors propose that a dividend of 5.7 pence per share (1999: 2.30p) be
paid on 7th May 2000 to holders on the register at the close of business on
6th April 2000 subject to approval by shareholders at the Annual General
Meeting.  (Ex-dividend date 4th April 2000).  The increase in the dividend
over the year was due to a change in accounting policy.


Fraser Easton

For the Secretary



The Fleming  American Investment Trust Plc   020 7742 6000
.................................................... 





                  THE FLEMING AMERICAN INVESTMENT TRUST PLC
           UNAUDITED FIGURES FOR THE YEAR ENDED 31ST DECEMBER 2000




BALANCE SHEET

                                                                  2000     1999
                                                                 £'000    £'000

Investments at valuation                                       565,259  597,880

Debtors                                                          6,330    1,646

Cash and short term deposits                                    38,901    5,641

Creditors:  amounts falling due within one year                (5,760)  (3,796)

Creditors:  amounts falling due after more than one year      (76,256) (24,818)
                                                              ________ ________
Total net assets                                               528,474  576,553

                                                                ======   ======

Net Asset Value per ordinary share                              880.0p   830.6p



CASH FLOW STATEMENT

                                                                  2000     1999
                                                                 £'000    £'000

Net cash inflow from operating activities                        2,810    3,159

Net cash outflow from returns on investments and servicing of  (3,645)  (1,780)
finance

Total tax recovered                                                518      447

Net cash inflow from capital expenditure and financial          53,785   30,513
investment

Total equity dividends paid                                    (1,481)  (2,037)

Net cash inflow from issue of £50m debenture                    49,479        -

Net cash outflow from repayment of preference shares                 -    (919)

Net cash outflow from repurchase of ordinary shares           (68,908) (31,684)
                                                              ________ ________
Increase/(decrease) in cash in the period                       32,558  (2,301)

                                                               =======  =======


The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act1985.  The comparative financial
information is based on the statutory accounts for the year ended 31st
December 1999.  These accounts, upon which the auditors issued an unqualified
opinion, have been delivered to the Registrar of Companies.



CHASE FLEMING ASSET MANAGEMENT (UK) LIMITED


1 March 2001





                  THE FLEMING AMERICAN INVESTMENT TRUST PLC
           UNAUDITED FIGURES FOR THE YEAR ENDED 31ST DECEMBER 2000


                                                                  2000     1999
                                                                       Restated
                                                                 £'000    £'000
REVENUE


Income

                                   Franked dividends               320      306
                                   Overseas dividends            4,940    5,616
                                   Overseas interest               294    1,017
                                   Deposit interest              1,688      278
                                                                ______    _____
Gross Revenue                                                    7,242    7,217

Less                               Administrative expenses       1,048    1,126
                                   Interest payable                772      355
                                                                ______   ______
Return before Taxation                                           5,422    5,736

Less                               Taxation                      2,032    1,503
                                                                ______   ______
Return after Taxation                                            3,390    4,233

Less                               Dividends on preference           -        5
                                   shares
                                                               _______   ______
Return available to ordinary                                     3,390    4,228
shareholders
Less                               Dividends on ordinary         3,308    1,596
                                   shares
                                                               _______   ______
Transfer to reserves                                                82    2,632

                                                                 =====    =====
Dividends per ordinary share*                                    5.70p    2.30p


                                                                  2000     1999

                                                                       Restated
                                                                 £'000    £'000
CAPITAL

                                   Movements on investments     24,960   94,561
                                   Less: Expenses charged to     2,384    2,120
                                   Capital*
                                   Less: Interest charged to     3,089    1,420
                                   Capital*
                                                               ________   ______
Return before Taxation                                          19,487   91,021

                                   Taxation                      1,260      955
                                                               _______   ______
Return attributable to ordinary                                 20,747   91,976
shareholders
                                                                ======    =====

Revenue return per ordinary share                                5.48p    6.01p
Capital return per ordinary share                               33.52p  130.77p
Total return per ordinary share                                 39.00p  136.78p


*- Management fees and interest costs are now charged 80% to capital.  Prior
year figures have been restated to reflect this change in accounting policy.
The increase in dividends per ordinary share is as a result of this change.