Interim Results

FLEMING US DISCOVERY INVESTMENT TRUST PLC
28 July 1999


        THE FLEMING US DISCOVERY INVESTMENT TRUST PLC

        Unaudited Results for the half-year ended 30th June,

        1999

The Fleming US Discovery Investment Trust plc today announced
its results for the half-year ended 30th June, 1999.

Total shareholder funds as at 30th June, 1999 were £64.4m
(1998: £66.1m). The  unaudited net asset value per share as
at 30th June 1999 was 531.5p. This  compares  with  a  figure
of   429.8p  as  at  31st  December  1998, representing an
increase of 23.7% for the six months to 30th  June  1999,
compared with an increase in the Russell 2000  index,  the
Company's benchmark, of 14.6%.
Commenting on the results the Chairman said:

     'The results of the Company for the six months ended
     30th June 1999 are very encouraging and, bearing in mind
     this outperformance, your Board is optimistic of the
     Company's future prospects and of the performance for
     the current financial year, ending 31st December 1999'.
     
Heather Williams
For and on behalf of the Secretary
Fleming Investment Trust Management
Limited 0171) 638 5858


THE FLEMING US DISCOVERY INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 1999

                                    1999          1998
                                    £'000        £'000
REVENUE

Income

Franked dividends                      11          275
Foreign income dividends                -           49
Scrip dividends                         -           11
Overseas dividends                     67          127
Overseas interest                       3           -
Deposit interest                       50          121
Underwriting commissions                -            1
                                       _____       _____
Gross Revenue                          161         584

Less Management fee                    199         265
Other administrative expenses           68          64
Interest payable                       232         222
                                      ______      _____
Return before Taxation                (338)         33

Less Taxation                           12          71
                                       _____      _____
Return available to ordinary
shareholders                          (350)        (38)
                                     =====         ====
CAPITAL


Return available to ordinary
shareholders                        12,546        5,303
                                        
                                      =====      =====
                                        
Revenue return per ordinary
share                                (2.80)p      (0.29)p
Capital return per ordinary
share                                100.00p      42.18p
Total return per ordinary share       97.20p      41.89p


At 30 June 1999

Total Net Assets (£'000)               64,447     66,145
Net Asset Value per Ordinary Share    531.5p     526.2p

The above financial information does not constitute statutory
accounts as defined in Section 240 of the Companies Act1985.
Statutory accounts  for the year ended 31st December 1998
have been delivered to the Registrar of Companies.

FLEMING INVESTMENT TRUST MANAGEMENT LIMITED