Portfolio Update

Fidelity Asian Values PLC

2 February 2006

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
January 2006 announced in accordance with Listing Rule LR 15.4.11R(2)

Security Description                                 % Gross Assets
                                                                   
Samsung Electronics                                             5.3
                                                                   
CNOOC                                                           4.7
                                                                   
Hyundai Motor                                                   4.3
                                                                   
Hutchison Whampoa                                               4.0
                                                                   
Asia Optical                                                    3.0
                                                                   
Far Eastone Telecom                                             2.8
                                                                   
ASE (Adv Semicond Engr)                                         2.7
                                                                   
China Mobile (HK)                                               2.7
                                                                   
Shinsegae                                                       2.6
                                                                   
Asustek Computer                                                2.6
                                                                   
                                                               34.7

Contact for queries:

Name: Rebecca Burtonwood, Fidelity Investments International

Telephone: [phone]