Compliance with Model Code

Fidelity Japanese Values PLC

Transactions in a close period - Listing Rule 15.5.1

Pursuant to LR15.5.1(4) the Company is satisfied that all inside information
which the Directors and the Company may have in the period leading up to the
announcement of the Company's annual results for the year to 31 December 2010
has previously been notified to PRNewswire (a Regulated Information Service).

Rebecca Burtonwood

For and on behalf of FIL Investments International

Company Secretary

01737 836869

4 January 2011