Purchase of Own Securities

Fleming Mercantile Inv Trust PLC
21 June 2000


REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The  Fleming  Mercantile Investment Trust  plc
announces that  today  in the market it purchased
for  cancellation 1,422,122   ordinary   shares   at
586.5p   per   share representing 1.04% of the
ordinary shares in issue.

The  number  of  shares repurchased to  date  now
totals 8,682,122  representing 6.01% 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 135,826,640

For further information, please contact:

Fraser Easton  (Company Secretary)
Fleming Investment Trust Management Limited ....0207 638 5858

Tom Durie
HSBC Securities - Stockbrokers to the
Company.......0207 336 2004


Angus Gordon Lennox
Cazenove & Co. Stockbrokers to the Company
0207-588-2828