Conversion of Warrants

Fleming Asian Investment Trust PLC
15 September 2000



         THE FLEMING ASIAN INVESTMENT TRUST PLC
                            
                 CONVERSION OF WARRANTS



The  Board  announces that valid applications  have  been
received  for  the exercise of 261 warrants to  subscribe
for  261  ordinary shares of 25 pence each. These  shares
were issued yesterday.

A block listing application sufficient for the listing of
any shares issued by the Company pursuant to the exercise
of warrants was granted by the Stock Exchange in February
1998.

Following  this issue of shares, the number of shares  in
issue  has  increased to 163,629,371 and  the  number  of
warrants in issue has decreased to 33,277,129.

These shares are being issued as a result of the exercise
of  warrants  and will rank pari passu with the  existing
ordinary shares.


Chase Fleming Asset Management (UK) Limited - Secretary
15 September 2000


For further information, please contact:
Chase Fleming Asset Management (UK) Limited
Hilary Lowe/Sharon Boland
020 7880 3274