AGM Statement

Fleming US Discovery Inv Trust PLC
10 May 2001


STOCK EXCHANGE ANNOUNCEMENT


THE FLEMING US DISCOVERY INVESTMENT TRUST PLC

Following the Annual General Meeting of the Company held on 10th May 2001, the
Board is pleased to announce that all the resolutions put to shareholders were
passed, including one Special Resolution which is summarised as follows:-

1.       To allow the Company to make market purchases of and to cancel up to
         1,765,744 ordinary shares;

Full details of all Resolutions are contained within the Company's Annual
Report and Accounts for the year ended 31st December 2000.


10th May 2001


For further information, please contact:

Richard Lewis

For and on behalf of

Chase Fleming Asset Management (UK) Limited, 020 7742 3477