Holding in Company

Fleming US Discovery Inv Trust PLC
7 February 2001

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES


1)   Name of company

THE FLEMING US DISCOVERY INVESTMENT TRUST plc

2)   Name of shareholder having a major interest



    MERCHANT INVESTORS ASSURANCE COMPANY LIMITED

 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 BANK OF NEW YORK (NOMINEES) LIMITED


5)   Number of shares/amount of stock acquired
250,000

6)   Percentage of issued class
2.12%

7)   Number of shares/amount of stock disposed

N/A
8)   Percentage of issued class

N/A

9)   Class of security

ORDINARY 25p SHARES


10)  Date of transaction



6TH FEBRUARY 2001



11)  Date company informed

7TH FEBRUARY 2001

12)  Total holding following this notification

500,000

13)  Total percentage holding of issued class following this notification

4.237%



14)  Any additional information


15)  Name of contact and telephone number for queries

HEATHER WILLIAMS, 020 7742 3459

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

MARK DEVIN, 020 7742 3453



17)  Date of notification



7TH FEBRURAY 2001