Substantial Acquisitions of Shares Disclosure

Fleming US Discovery Inv Trust PLC
18 April 2000
                                                              FORM SAR 3

                                       Date of disclosure.18 APRIL 2000.

                 DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
                   SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')

                
Date of acquisition...17 APRIL 2000.....................................

Acquisition in....FLEMING US DISCOVERY INVESTMENT TST..(name of company)


(1) Class of voting shares    Number of shares/rights   If rights over shares
    (eg ordinary shares)      over shares acquired      acquired, as opposed
                                                        to the shares
                                                        themselves, specify
                                                        nature of rights

    FLEMING US DIS INV TRUST  ......5,412.....shares    .....................
    .......ORD 25P..........  ...N/A..........rights


(2) Resultant total holding   Resultant total holding   Total percentage
    of voting shares (and %   of rights over shares
    of total voting shares    (and % of total voting
    in issue)                 shares in issue)

    ..2,949,965....(25.0%)    ...............(    %)   ..2,949,965..(25.0%)


(3) Party making disclosure....FLEMING INVESTMENT MANAGEMENT LIMITED.......  

(4)  (a)  Name of person acquiring shares or rights over shares AS IN (3) ABOVE
          and, if different, beneficial owner............................... 

     (b)  Names of any other persons acting by
          agreement or understanding (see SAR 5)............................


Signed, for and on behalf of the party named in (3) above...................

(Also print name of signatory)...SANDRA TAYLOR..p.p.DOMINIC WILLIAMS.......

Telephone and extension number...0171 282 4174..............................

Note. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person.  Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs.  If in doubt, contact the Panel on Take-overs and Mergers, 
Tel. No: 01-382-9026.