Purchase of Own Securities

Fleming Eur Fledgeling Inv Tst PLC
18 July 2001





                         STOCK EXCHANGE ANNOUNCEMENT



             THE FLEMING EUROPEAN FLEDGELING INVESTMENT TRUST PLC

                REPURCHASE OF ORDINARY SHARES FOR CANCELLATION




The Fleming European Fledgeling Investment Trust plc announces that today in
the market they purchased for cancellation 150,000 ordinary shares at 242p per
share representing 0.24% of the ordinary shares in issue.



The number of shares repurchased to date now totals 1,426,303.



The remaining shares in issue following this repurchase total 61,116,517.




18th July 2001



For further information, please contact:

Jonathan Latter  (Company Secretary)
JP Morgan Fleming Asset Management (UK) Limited, 020 7742 3408


Nick Corke
Credit Lyonnias Securities Europe (UK) -
Stockbrokers to the Company, 020 7214 5576