Portfolio Disclosures

Fidelity Asian Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
January 2004, announced at 30 January 2004, announced in accordance with
Listing Rule 21.20(1)(ii)

Security Description                                           % Gross Assets
                                                                             
SAMSUNG ELECTRONICS                                                      10.3
                                                                             
HUTCHISON WHAMPOA                                                         3.8
                                                                             
KOOKMIN BANK NEW                                                          3.4
                                                                             
CHEUNG KONG HOLDINGS                                                      2.9
                                                                             
TAIWAN SEMICONDUCT MANUFACTURING                                          2.9
                                                                             
CHINA MOBILE (HK)                                                         2.5
                                                                             
OVERSEA-CHINESE BANKING (L)                                               2.4
                                                                             
NCSOFT                                                                    2.4
                                                                             
SWIRE PACIFIC `A'                                                         2.1
                                                                             
BANGKOK BANK (F)                                                          1.9
                                                                             
                                                                         34.6