Interim Management Statement

FIDELITY CHINA SPECIAL SITUATIONS PLC - INTERIM MANAGEMENT STATEMENT FOR THE   
QUARTER ENDED                                                                  
                                                                               
30 JUNE 2010                                                                   
                                                                               
Issued pursuant to the requirements of Chapter 4 of the Disclosure and         
Transparency Rules                                                             
                                                                               
Objective                                                                      
                                                                               
Fidelity China Special Situations PLC is focused on the long-term growth       
potential of China. The portfolio is made up primarily of securities issued by 
companies listed in China or Hong Kong and Chinese companies listed elsewhere. 
It may also invest in listed companies with significant interests in China and 
Hong Kong.                                                                     
                                                                               
Benchmark                                                                      
                                                                               
MSCI China Index                                                               
                                                                               
Review of Period since launch on 19 April 2010 (total return)                  
                                                                               
During the period:                                                             
                                                                               
- the NAV decreased by 5.38% against the 3.48 % decrease by the benchmark.     
                                                                               
- the share price decreased by 1.25%                                           
                                                                               
Gearing exposure was 16.11% on 30 June 2010                                    
                                                                               
Material transactions                                                          
                                                                               
On 20 April 2010, the Company announced that it had entered into a Revolving   
Facility Agreement of HK$775,000,000 with JP Morgan Chase Bank,                
                                                                               
On 22 July 2010, the Company rolled over the full amount of a Revolving        
Facility Agreement of HK$775,000,000 held with JP Morgan.                      
                                                                               
Material Events                                                                
                                                                               
On 10 June 2010, the Company made a block listing application for 45,999,999   
ordinary shares of 1 penny each.                                               
                                                                               
On 18 June 2010, the Company issued 11,000,000 ordinary shares at 100.1p per   
share.                                                                         
                                                                               
On 22 July 2010, the Company issued 1,500,000 ordinary shares at 101.5p per    
share.                                                                         
                                                                               
Details of the Company                         Dealing Information             
                                                                               
Fund Mana   Anthony Bolton                     Listed:           LSE           
ger:                                                                           
                                                                               
Enquiries:  0800 414110                        Broker:           Cenkos        
                                                                               
WWW         www.fidelity.co.uk                 Price Quoted:     Financial     
Address:    /its                                                 Times         
                                                                               
            Copies of major                                                    
            announcements and                                                  
            documentation                                                      
            relating to the                                                    
            Company may be                                                     
            found on the                                                       
            website                                                            
                                                                               
Launch      19 April 2010                      Reuters Code:     FCSS          
Date:                                                                          
                                                                               
            As at 30 June 2010 As at 18 August SEAQ Code:        B62Z3C7       
                               2010                                            
                                                                               
Ordinary    471,000,000        472,500,000     ISIN:             GB00B62Z3C74  
Shares In                                                                      
Issue:                                                                         
                                                                               
Share price 5.41%              7.10%           Registered office               
premium to                                                                     
NAV:                                                                           
                                                                               
Total       £508.0m            £522.5m         Beech Gate                      
Assets:                                                                        
                                               Millfield Lane                  
Loan:       £66.8m             £64m                                            
                                               Lower Kingswood                 
Total Net   £441.2m            458.5m                                          
Assets:                                        Tadworth                        
                                                                               
Gearing     116.11%            115.32%         Surrey KT20 6RP                 
exposure:                                                                      
                                                                               
The Company's net asset value per share is announced daily and may be found on 
the Stock Exchange website www.londonstockexchange.com                         

                            Portfolio Breakdowns                               
                                                                               
Industry          As at 30 June    Largest 10 Holdings   As at 30 June         
Breakdown         2010                                   2010                  
                                   (% total net assets)                        
(% total net                                                                   
assets)                                                                        
                                                                               
Financials        32.4             China Mobile Limited  6.3%                  
                                                                               
Consumer          20.7             Industrial & Com Bank 6.3%                  
Discretionary                      of China H                                  
                                                                               
Telecom Services  11.5             China Merchants Bank  5.6%                  
                                   Co Ltd (ELN)                                
                                                                               
Information       9.6              Tencent Holdings      4.2%                  
Technology                         Limited                                     
                                                                               
Health Care       7.6              China Unicom (Hong    4.2%                  
                                   Kong) Ltd                                   
                                                                               
Materials         7.1              HSBC Holdings Plc     4.1%                  
                                   (HK)                                        
                                                                               
Industrials       4.6              Ping An Insurance Co  3.2%                  
                                   Ltd (ELN)                                   
                                                                               
Consumer Staples  3.5              CNinsure Inc Spons    3.1%                  
                                   ADR                                         
                                                                               
Other             3.0              Hang Lung Properties  2.5%                  
                                   Ltd                                         
                                                                               
                                   United Laboratories   2.3%                  
                                   Intl Hldgs                                  
                                                                               

As at 18 August 2010 the Company's NAV per share was 97.11 p (debt at par) and
97.02 p (debt at fair value) and the Company's share price was 104.00p per
share.

By order of the Board

Christopher Pirnie

For and on behalf of FIL Investments International

Company Secretary

19 August 2010

Past performance is not a guide to future returns. The value of investments can
go down as well as up. For funds that invest in overseas markets, changes in
currency exchange rates may affect the value of an investment. Investments in
small and emerging markets can be more volatile than other more developed
markets. Source of performance: Fidelity and Datastream as at 30 June 2010.
Basis: bid-bid with net income reinvested. Fidelity only gives information
about its own products and services and does not provide investment advice
based on individual circumstances.