Purchase of Own Securities

Fleming Eur Fledgeling Inv Tst PLC
18 October 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 1,000,000 ordinary shares at 190p
per share representing 1.66% of the ordinary shares in issue.

The number of shares repurchased to date now totals 3,476,303.

The remaining shares in issue following this repurchase total 59,066,517.



18th October 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