Purchase of Own Securities

FLEMING AMERICAN INVESTMENT TRUST PLC
27 July 1999


        THE FLEMING AMERICAN INVESTMENT TRUST PLC
                            
     REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming American Investment Trust plc announces that
today  in  the  market  they purchased  for  cancellation
78,000  ordinary shares at 668.0p per share  representing
a total of 0.10% of the ordinary shares in issue.

The  number  of  shares repurchased to  date  now  totals
2,588,424  representing 3.68% of the ordinary  shares  in
issue  at  the  time  of commencement of  the  repurchase
programme.

The  remaining  number of shares in issue following  this
purchase is 71,634,510.

For further information, please contact:

Fraser Easton 0171-880-3425
Caroline Henry (Assistant Company Secretary)
Fleming Investment Trust Management Limited .............. 0171 638 3425

Angus Gordon Lennox
Cazenove & Co - Stockbrokers to the Company.......  0171 588 2828