Holding in Company

Fleming US Discovery Inv Trust PLC
13 December 2000

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

THE FLEMING US DISCOVERY INVESTMENT TRUST PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

THE EQUITABLE LIFE ASSURANCE SOCIETY

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

IN RESPECT OF SHAREHOLDER IN 2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

THE EQUITABLE LIFE ASSURANCE SOCIETY

5)   Number of shares/amount of stock acquired.

N/A

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

100,000

8)   ( 0.85 %) of issued Class

9)   Class of security

ORDINARY 25p SHARES

10)  Date of transaction

11-DEC-00

11)  Date company informed

12-DEC-00

12)  Total holding following this notification

2,175,942
               
              
13)  Total percentage holding of issued class following this notification

18.47%

14)  Any additional information



15)  Name of contact and telephone number for queries

HEATHER WILLIAMS, 020 7742 3459

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification .....13-DEC-00..........