Portfolio Update

Fidelity Asian Values PLC

2 May 2006

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
April 2006 announced in accordance with Listing Rule LR 15.4.11R(2)

Security Description                                 % Gross Assets
                                                                   
SAMSUNG ELECTRONICS                                             5.2
                                                                   
LI & FUNG                                                       4.4
                                                                   
CNOOC                                                           4.1
                                                                   
HYUNDAI MOTOR                                                   3.9
                                                                   
HON HAI PRECISION INDUSTRY                                      3.4
                                                                   
ASE (ADV SEMICOND ENGR)                                         3.3
                                                                   
CHINA MOBILE (HK)                                                 3
                                                                   
KOOKMIN BANK NEW                                                2.6
                                                                   
NHN                                                             2.5
                                                                   
SWIRE PACIFIC 'A'                                               2.3
                                                                   
                                                               34.7

Contact for queries:

Name: Graham Symonds, Fidelity Investments International

Telephone: [phone]