Interim Results

FLEMING AMERICAN INVESTMENT TRUST PLC
20 July 1999


            THE FLEMING AMERICAN INVESTMENT TRUST PLC
                                
                                
    Unaudited Results for the half year ended 30th June, 1999

The  Fleming  American Investment Trust plc today  announced  its
results for the half year ended 30th June, 1999.

The  net  asset value per ordinary share increased by 16.8%  over
the  period to 808.4p as at 30th June 1999, compared with the S&P
500 Composite Index, in Sterling terms, which increased by 17.9%.

Fraser Easton
For the Secretary

The Fleming  American Investment Trust Plc    0171 880 3425
                              
                                
                                
                                
            THE FLEMING AMERICAN INVESTMENT TRUST PLC
    UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 1999

                                              1999           1998

                                       £'000     £'000
REVENUE

Income

     Franked dividends                    128      128
     Unfranked dividends                3,289    3,447
     Interest from investments            536      837
     Scrip dividends                        -       59
     Other income                         111      247
                                        _____    _____
Gross Revenue                           4,064    4,718

Less Management fee                     1,328    1,112
     Other administrative expenses        150      150
     Interest payable                     908      772
                                       ______    _____
Return before Taxation                  1,678    2,684

Less Taxation                             513      813
                                        _____    _____
Return after Taxation                   1,165    1,871

Less Preference dividend                    5       16
                                        _____    _____
Return available to ordinary shareholders 1,160  1,855
                                         ====     ====

CAPITAL

Return available to ordinary shareholders81,317 45,136
                                        =====    =====

Revenue return per ordinary share      1.64 p   2.66 p
Capital return per ordinary share    115.19 p  64.66 p
Total return per ordinary share      116.83 p  67.32 p


At 30 June 1999

Ordinary shareholders funds (£'000)   580,122  491,904
Net Asset Value per Ordinary Share    808.4 p  669.1 p

The  above  financial  information does not constitute  statutory
accounts  as  defined in Section 240 of the Companies  Act  1985.
Statutory  accounts  for the year ended 31st December  1998  have
been delivered to the Registrar of Companies.

FLEMING INVESTMENT TRUST MANAGEMENT LIMITED

20 July 1999