Holding in Company

Fleming US Discovery Inv Trust PLC
24 December 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

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

AS 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)   Percentage of issued class

N/A

7)   Number of shares/amount of stock disposed

300,000

8)   Percentage of issued class

2.55%

9)   Class of security

ORDINARY 25P SHARES

10)  Date of transaction

18TH DECEMBER 2001

11)  Date company informed

21ST DECEMBER 2001

12)  Total holding following this notification

795,942


13)  Total percentage holding of issued class following this notification

6.75%

14)  Any additional information

N/A

15)  Name of contact and telephone number for queries

SARA WALTHAM 020 7742 5531

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



FRASER EASTON



Date of notification: 24 DECEMBER 2001