Directorate Change

The Board of Fidelity European Values PLC is pleased to announce that Mr James
Robinson and Mr Humphrey van der Klugt will be appointed as non-executive
Directors of the Company with effect from 1 June 2007.

James Robinson, aged 53, was Chief Investment Officer, Investment Trusts and
Director of Hedge Funds at Henderson Global Investors prior to his retirement
in 2005. A Chartered Accountant, he has 27 years' investment experience and is
currently a director of Aberdeen New Thai Investment Trust PLC and Invesco Asia
Trust plc. In the past five years, Mr Robinson has also held Directorships in
the following public quoted companies all listed on the Dublin Stock Exchange:-

Henderson UK Fundamental Long Short Fund Ltd (resigned 1 July 2005)

Henderson Pan European Equity Multi-Strategy Fund Ltd (resigned 1 July 2005)

Henderson UK Equity Long Short Fund Ltd (resigned 1 July 2005)

Henderson Global Fixed Income Absolute Return Fund Ltd (resigned 1 July 2005)

Henderson UK Equity Multi-Strategy Fund Ltd (resigned 1 July 2005)

Henderson European Absolute Return Fund Ltd (resigned 1 July 2005)

Henderson Asia Pacific Absolute Return Fund Ltd (resigned 1 July 2005)

Henderson Japan Absolute Return Fund Ltd (resigned 1 July 2005)

Henderson Global Technology Absolute Return Fund Ltd (resigned 13 December
2002)

Humphrey van der Klugt, aged 53, is a Chartered Accountant and was previously a
Director of Schroder Investment Management Limited. In a 22 year career at
Schroders, he was a member of the Group Investment and Asset Allocation
Committees. He is currently Chairman of the Supervisory Board of Schroder
Exempt Property Unit Trust and a Director of Merrill Lynch Commodities Income
Investment Trust plc and of Murray Income Trust plc. He was a Director of
Schroder Split Fund Plc, a company with a fixed life, which was wound up as
scheduled in January 2002.

It is confirmed that there is no further information to be disclosed under
Listing Rule 9.6.13 R (2) to (6).

Rebecca Burtonwood

Fidelity Investments International

Company Secretary

Tel: [phone]

30 May 2007