Purchase of Own Securities

Fleming American Investment Trust PLC
16 November 1999


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


The  Fleming American Investment Trust plc announces that
on  the  15th  November in the market they purchased  for
cancellation  50,000 ordinary shares at  678p  per  share
representing a total of 0.07 % of the ordinary shares  in
issue.

The  number  of  shares repurchased to  date  now  totals
4,261,564  representing 6.07% 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 69,961,370.

16th November 1999

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