Amended announcement - Top 10 and holdings over 5%

Fidelity European Values PLC

The issuer advises that the following replaces the top 10 and holdings over 5%
announcement released on 5 January 2004 at 15.56 under RNS number
PRNUK-0501041555-711B. The holdings referred to have been amended and the full
amended text appears below.

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
December 2003, announced in accordance with Listing Rule 21.20 (l) (ii).

Security Description                                     % Gross Assets
                                                                       
FRANCE TELECOM                                                      3.3
                                                                       
TOTAL                                                               3.0
                                                                       
EUROPEAN AERONAUTIC DEFENCE & SPACE                                 2.5
                                                                       
CREDIT AGRICOLE                                                     2.3
                                                                       
STATOIL ASA                                                         2.3
                                                                       
ALTADIS                                                             2.3
                                                                       
AXA                                                                 2.2
                                                                       
ENI                                                                 2.2
                                                                       
DEUTSCHE TELEKOM (REGD)                                             2.1
                                                                       
ROYAL DUTCH PETROLEUM (NL)                                          2.0
                                                                       
TOTAL                                                              24.2