Purchase of Own Securities

Fleming Eur Fledgeling Inv Tst PLC
18 March 2002



                          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 on 15 March
2002 it purchased in the market for cancellation 75,000 ordinary shares at 216p
per share representing 0.13% of the ordinary shares in issue.

The number of shares repurchased to date now totals 4,201,303.

The remaining shares in issue following this repurchase total 58,341,517.


18th March 2002



For further information, please contact:

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


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


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