Currency Hedge

Fleming Asian Investment Trust PLC
31 October 2001

                      LONDON STOCK EXCHANGE ANNOUNCEMENT

                    THE FLEMING ASIAN INVESTMENT TRUST PLC

                                CURRENCY HEDGE

It is hereby announced that as from yesterday the Company had no currency
hedges in place.

31st October 2001


Fraser Easton
For and on behalf of
JP Morgan Fleming Asset Management (UK) Limited - Secretary

For further information:

Fraser Easton
JP Morgan Fleming Asset Management (UK) Limited                  020 7742 6000