Purchase of Own Securities

Fleming Mercantile Inv Trust PLC
7 February 2000

              REPURCHASE OF ORDINARY SHARES FOR CANCELLATION

The Fleming Mercantile Investment Trust pc announces that today in the market
they purchased for cancellation 350,000 ordinary shares at 554.89p per share
representing 0.25% of the ordinary shares in issue.

The number of shares repurchased to date now totals 2,935,000 representing 2.03%
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
141,573,762.


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