Dividend Declaration/Gearing

Fleming Claverhouse Inv Trust PLC
27 April 2001



                 The Fleming Claverhouse Investment Trust plc

First quarterly interim dividend

The Directors have declared that a first quarterly interim dividend of 2.00
pence per share for the year ending 31st December 2001 will be paid on 1st
June 2001 to shareholders on the register at close of business on 11th May
2001.

Gearing

The Directors announce that the Company has entered into a £10 million 18
month floating rate bank loan with Allied Irish Banks, p.l.c. The extra funds
will be used for investment in line with the Company's current investment
policy.

For further information:

Jonathan Latter

Chase Fleming Asset Management (UK) Limited                 020 7742 6000



27th April 2001