Purchase of Own Securities

Fleming Overseas Inv Trust PLC
1 February 2001




                         STOCK EXCHANGE ANNOUNCEMENT

                  THE FLEMING OVERSEAS INVESTMENT TRUST PLC

                REPURCHASE OF ORDINARY SHARES FOR CANCELLATION


The Fleming Overseas Investment Trust plc announces that today in the market
they purchased for cancellation 11,500,000 ordinary shares at 609p per share
representing 12.09% of the ordinary shares in issue.

The number of shares repurchased to date now totals 49,232,401.

The remaining shares in issue following this repurchase total 83,607,599.

1 February 2001

For further information, please contact:

Linda Field  (Company Secretary)
Chase Fleming Asset Management (UK) Limited, 020 7742 3426


Tom Durie
HSBC Securities - Stockbrokers to the Company, 020 7336 2004