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Fleming Claverhouse (JCH)

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Thursday 30 August, 2001

Fleming Claverhouse

Interim Results

Fleming Claverhouse Inv Trust PLC
30 August 2001




                         STOCK EXCHANGE ANNOUNCEMENT


                 THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC


          Unaudited results for the six months ended 30th June 2001


The Directors of The Fleming Claverhouse Investment Trust plc today announce
the Company's results for the six months ended 30th June 2001.



In the six months since the end of the financial year on 31st December 2000,
the Company's net asset value per share decreased by 6.4% to 466.6 pence and
the share price by 8.8% to 472.5 pence.  These results compare with a decrease
of 8.6% in the Company's benchmark, the FTSE All-Share Index. Total return on
net assets  for  the  period was  -5.8%, compared  with  the  benchmark total
return  of -7.3%.



The Directors have already declared a second interim dividend of 2.00 pence
per ordinary share (2000: 1.70p). This is payable on 3rd September 2001 to
shareholders on the register at the close of business on 10th August 2001.


J.P Morgan Fleming Asset Management (UK) Limited - Secretary



30th August 2001



For further information, please contact:

Jonathan Latter
J.P Morgan Fleming Asset Management (UK) Limited
020 7742 6000




                 THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
           UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 2001


                                                              2001         2000
                                                             £'000        £'000

REVENUE


Income

Franked dividends                                            5,857        3,823
Interest from investments                                        -            2
Script dividends                                               216           34
Deposit interest                                               399          232
Stock lending Fees                                               -           10
                                                           _______      _______
Gross Revenue                                                6,472        4,101

Less:
Management fee                                                 561          449
Other administrative expenses                                  249          125
Interest payable                                               904          512
                                                           _______      _______
Return before Taxation                                       4,758        3,015

Less:  Taxation                                                 74           47
                                                           _______      _______
Return available to ordinary shareholders                    4,684        2,968
                                                             =====        =====

                                                              2001         2000
                                                             £'000        £'000

CAPITAL


Movements on investments                                  (25,325)     (13,127)
Less: Expenses charged to capital                            1,040          834
Less: Finance costs charged to capital                       1,678          951
Less: Unrealised performance fee                               624            -
                                                           _______      _______
Return attributable to ordinary shareholders              (28,667)     (14,912)

Taxation                                                        74           47
                                                           _______      _______
Return attributable to ordinary shareholders              (28,593)     (14,865)
                                                             =====        =====
Dividends per ordinary share                                4.00 p       3.40 p

Revenue return per ordinary share                           5.76 p       4.53 p
Capital return per ordinary share                         (35.14)p     (22.66)p
Total return per ordinary share                           (29.38)p     (18.13)p
                                                             =====        =====




                 THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
           UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 2001



                                                                   2001    2000
                                                                  £'000   £'000

BALANCE SHEET


Investments at valuation                                        441,824 374,473

Net current assets                                               13,660   7,702

Net non current liabilities                                    (69,681) (29,654)

                                                                _______ _______
Total net assets                                                385,803 352,521
                                                           
                                                                  =====   =====
Net asset value per ordinary share                               466.6p  512.3p


CASH FLOW STATEMENT
                                                                   2001    2000
                                                                  £'000   £'000


Net cash inflow from operating activities                         4,128   2,505

Net cash outflow from returns on servicing of finance           (2,264) (1,451)

Total tax paid                                                     (89)       -

Net cash outflow from capital expenditure and                  (56,779) (14,186)
financial investment

Total equity dividends paid on ordinary shares                  (3,830) (2,531)

Net cash inflow from financing                                   71,202  24,496
                                                                _______  ______
Increase in cash for the period                                  12,368   8,833
                                                                  =====    ====



The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985.  Statutory accounts for the
period ended 31st December 2000 have been delivered to the Registrar of
Companies.





J.P. Morgan Fleming Asset Management (UK) Limited
30th August 2001