Interim Results

Fleming Emerging Mkts Inv Tst PLC
8 February 2002


THE FLEMING EMERGING MARKETS INVESTMENT TRUST PLC



          Half Yearly Results for Six Months Ended 31st December 2001

London, 8th  February, 2002

The Fleming Emerging Markets Investment Trust Plc today announced its results
for the six months ended 31st December, 2001.

There was a decrease in net assets of 3.9% compared to the position on 30th June
2001. The benchmark index, the MSCI Emerging Markets Free Index (in sterling
terms), fell 4.5% over the same period.

The interim statement (unaudited) for the six months to 31st December 2001, will
be sent to shareholders on 28th February 2002, and copies will be available to
the public at the registered office, Finsbury Dials, 20 Finsbury Street, London
EC2Y 9AQ, after that date.


For further information, please contact:



Linda Field

J.P. Morgan Asset Management (UK) Limited..................... 020 7742 3426



The Fleming Emerging Markets Investment Trust plc

Unaudited figures for the six months ended 31 December 2001


Statement of Total Return (Unaudited)


                                 Six months to 31 December 2001   Six months to 31 December        Year to 30 June 2001
                                                                            2000
                                   Revenue    Capital     Total   Revenue   Capital   Total    Revenue   Capital   Total
                                     £'000      £'000     £'000     £'000     £'000   £'000      £'000     £'000   £'000


Realised losses on investments           -      (813)     (813)         -     (295)     (295)       -   (6,358)  (6,358)

Net change in unrealised losses          -    (4,404)   (4,404)         -  (45,178)  (45,178)       -  (39,137) (56,297)

Currency losses on cash and
short-term                               -      (163)     (163)         -     (202)     (202)       -    (117)     (117)
deposits held during the period

Unrealised currency gain/(loss)
on US dollar loan                        -        574       574               (213)     (213)          (1,212)   (1,212)
                                         
Other capital charges                    -       (10)      (10)         -      (33)      (33)       -      (2)       (2)

Franked dividends                       48          -        48         -         -         -       -        -         -

Overseas dividends                     886          -       886       767         -       767      2,064     -     2,064

Scrip dividends                         17          -        17        35         -        35        109     -       109

Deposit interest                        58          -        58       301         -       301         49     -        49

Stock lending fees                       -          -         -        10         -        10         10     -        10
                                   _______   ________   _______    ______   _______  ________    _______ _______ _______

Gross return                         1,009    (4,816)   (3,807)     1,113  (45,921)  (44,808)     2,232(46,826) (44,594)

Management fee                       (834)          -     (834)   (1,108)         -   (1,108)    (2,106)     -   (2,106)

Other administrative expenses        (170)          -     (170)     (252)         -     (252)      (562)     -     (562)

Interest payable                     (635)          -     (635)     (955)         -     (955)    (1,340)     -   (1,340)

                                   _______    _______   _______    ______   _______   _______    _______ _______ _______
                                                                                                  

Return before taxation               (630)    (4,816)   (5,446)   (1,202)  (45,921)  (47,123)   (1,776)(46,826) (48,602)

Taxation                             (167)          -     (167)      (94)         -      (94)      (216)     -     (216)

                                    ______    _______   _______    ______   _______    ______    _______ _______ _______

Transfer to/ (from) reserves         (797)    (4,816)   (5,613)   (1,296)  (45,921)  (47,123)   (1,992)(46,826) (48,818)


Return per ordinary share          (0.88)p    (5.31)p   (6.19)p   (1.41)p  (50.09)p  (51.50)p  (2.17)p (51.12)p (53.29)p

Dividend per ordinary share            Nil                            Nil                          Nil



The Fleming Emerging Markets Investment Trust plc

Unaudited figures for the six months ended 31 December 2001


BALANCE SHEET                                                        31 December     31 December         30 June
                                                                            2001            2000            2001
                                                                           £'000           £'000           £'000

Investments at valuation                                                 135,781         146,454         143,317


Net current assets                                                         3,829           1,384           3,622

Long term loan                                                          (16,490)        (16,066)        (17,065)

Deferred taxation                                                           (30)            (30)            (30)
                                                                         _______         _______         _______
Total net assets                                                         123,090         131,742         129,844
                                                                           =====           =====           =====
Net asset value per ordinary share                                       136.50p         143.70p          142.0p

CASH FLOW STATEMENT
                                                                            2001                            2000
                                                                           £'000                           £'000

Net cash outflow from operating activities                                   (3)            (72)           (587)

Net cash outflow from returns on investments and servicing
of finance
                                                                           (635)           (955)         (1,340)

Total tax (paid)/recovered                                                   (3)               8             151

Net cash inflow from capital expenditure and financial
investment
                                                                           1,984           4,586           8,147

Net cash outflow from financing                                          (1,215)          (2,990         (3,214)
                                                                         _______          ______          ______
Increase in cash for the period                                              128             577           3,157
                                                                           =====            ====            ====




The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30 June 2001 have been delivered to the Registrar of Companies.


J.P. MORGAN FLEMING ASSET MANAGEMENT (UK) LIMITED


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