Purchase of Own Securities

Fleming Eur Fledgeling Inv Tst PLC
9 January 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 yesterday
in the market it purchased for cancellation 500,000 ordinary shares at 226p
per share representing 0.85% of the ordinary shares in issue.

The number of shares repurchased to date now totals 3,976,303.

The remaining shares in issue following this repurchase total 58,566,517.


9th January 2002

For further information, please contact:

Jonathan Latter  (Company Secretary)

J.P. Morgan Fleming Asset Management (UK) Limited, 020 7742 3408


Nick Corke

Credit Lyonnias Securities Europe (UK) -

Stockbrokers to the Company, 020 7214 5576