Purchase of Own Securities

Fleming Asian Investment Trust PLC
23 January 2002


                          STOCK EXCHANGE ANNOUNCEMENT

                     THE FLEMING ASIAN INVESTMENT TRUST PLC

                 REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


The Fleming Asian Investment Trust plc announces that on Tuesday 22nd January
2002 in the market it purchased for cancellation 1,500,000 ordinary shares at
82.5p per share representing 0.92% of the ordinary shares in issue.


The number of shares repurchased to date now totals 4,445,000.

The remaining shares in issue following this announcement are 162,082,042.




23rd January 2002


For further information, please contact:


Fraser Easton
For and on behalf of
J.P. Morgan Fleming Asset Management (UK) Limited
020 7742 3425


Tom Harris
Cazenove & Co Ltd. - Stockbrokers to the Company
020 7825 9850



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