Amendment re Management Agreement

The Board of Fidelity Japanese Values PLC announces that following the annual
review of the Management and Secretarial Services Agreement dated 22 February
1994, between the Company and Fidelity Investments International (the
'Agreement'), the parties have agreed that the notice period for termination of
the Agreement by either party should be reduced from twelve months to six
months with effect from 6 February 2006.

The Board believes that this change is in the interests of shareholders as a
whole.

7 February 2006

Contact for queries:

Stephen Westwood, Head of Investment Trusts,

Fidelity investments International

Telephone: [phone]

Miss Tracey A Bennett, Senior Company Secretary,

Fidelity Investments International

Telephone: [phone]