Statement Regarding Loan

Fleming Eur Fledgeling Inv Tst PLC
9 December 1999


The Fleming European Fledgeling Investment Trust plc
announces that it has entered into a loan for Euro 12
million (twelve million Euros) for five years which
commenced on 9th December 1999. The rate of interest
has been fixed at 4.7225% for the first two years.

The proceeds of the loan will be used to continue to
invest in a diversified portfolio of smaller
companies in Europe, excluding the United Kingdom.

For further information please contact:
Jonathan Latter
Fleming Investment Trust Management Limited
0171 638 5858