Purchase of Own Securities

Fleming Mercantile Inv Trust PLC
20 March 2000


       THE FLEMING MERCANTILE INVESTMENT TRUST PLC
                            
                            
     REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming  Mercantile Investment Trust  plc  announces
that  today in the market they purchased for cancellation
625,000  ordinary shares at 622.0p per share representing
0.44% of the ordinary shares in issue.

The  number  of  shares repurchased to  date  now  totals
5,690,000  representing 3.93% of the ordinary  shares  in
issue  at  the  time  of commencement of  the  repurchase
programme.

The  remaining  number of shares in issue following  this
repurchase is 138,818,762

For further information, please contact:

Fraser Easton  (Company Secretary)
Caroline Henry (Assistant Company Secretary)
Fleming Investment Trust Management Limited
0171 638 5858

Tom Durie
HSBC Securities - Stockbrokers to the Company
0171 336 2004