Change of Adviser

Fidelity European Values PLC

Change of Adviser

6 January 2003

The Directors of Fidelity European Values PLC are pleased to announce the
appointment of Close Brothers Securities as corporate broker to the Company.

Enquiries:

Barbara Powley, Fidelity Investments International

Tel: [phone]

Tom Durie, Close Brothers Securities

Tel: [phone]

Note: Close Brothers Securities is a division of Winterflood Securities Limited