Credit Facility Agreement for EUR65m

Fleming Eur Fledgeling Inv Tst PLC
23 February 2000


The Fleming European Fledgeling Investment Trust plc
announces that it has entered into a two year revolving
credit facility agreement for EUR 65 million (sixty five
million Euros) which commenced on 23rd February 2000.

The proceeds of the loan will be used to continue to invest
in a diversified portfolio of smaller companies in Europe,
excluding the United Kingdom.

For further information please contact:
Jonathan Latter
Fleming Investment Trust Management Limited      0171 638 5858