Sector/Geographical Breakdown

Fleming Eur Fledgeling Inv Tst PLC
10 December 2001



SECTOR/GEOGRAPHIC BREAKDOWNS BY % AND TEN LARGEST INVESTMENTS, November 2001

THE FLEMING EUROPEAN FLEDGELING INVESTMENT TRUST plc

                                                                          %
BY SECTOR

Financials                                                                   22
Cyclical Services                                                            21
General Industrials                                                          21
Non Cyclical Consumer Goods                                                  14
Information Technology                                                        6
Cyclical Consumer Goods                                                       5
Basic Industries                                                              2
Assets/Liabilities                                                            1
Non Cyclical Services                                                         7
Utilities                                                                     0
Resources                                                                     1

Total                                                                       100


BY TERRITORY                                                              %

France                                                                       14
Sweden                                                                       12
Germany                                                                      11
European Funds                                                                8
Italy                                                                        10
Switzerland                                                                   8
Holland                                                                       6
Spain                                                                         6
Eire                                                                          3
Assets/Liabilities                                                            1
Denmark                                                                       6
Finland                                                                       7
Norway                                                                        6
Belgium                                                                       2

Other                                                                         0

Total                                                                       100


TEN LARGEST INVESTMENTS

Fleming Frontier Euro Discovery Fund                                        8.0
Buhrmann                                                                    2.3
Coloplast                                                                   2.0
Soitec                                                                      2.0
Credito Emil                                                                1.7
Wavecom                                                                     1.7
Tod's Spa                                                                   1.6
D Carnegie                                                                  1.7
UBI Entertainment                                                           2.0
OM AB                                                                       1.7
Total                                                                      24.7