Final Exercise of Subscription Shares

Fidelity Japanese Values PLC (the "Company")                  

                     Final Exercise of Subscription Shares                     

1 March 2013


Further to the announcement made by the Company earlier today, the Company has
been informed by the Final Subscription Trustee, appointed pursuant to
paragraph 8(g) of Part IV of the prospectus published by the Company in
connection with the bonus issue of Subscription Shares dated 15 October 2009
(the "Prospectus"), that it is exercising the 10,200,009 outstanding
Subscription Shares on the same terms.

Subscription Shareholders on whose behalf the Trustee has exercised the
outstanding Subscription Rights and is selling the resulting Ordinary Shares
will receive the net proceeds of such sale after deduction of the Subscription
Price of 55p together with all associated fees, costs and expenses (including
brokerage commission) of approximately 0.047 pence per Subscription Share. Net
proceeds should be received by no later than 5 April 2013 provided that
aggregate entitlements per holder of under £5.00 shall be retained for the
benefit of the Company.

Total Voting Rights

Following the issue of new Ordinary Shares noted above, the Company's issued
share capital consists of 114,054,834 Ordinary Shares of 25p each, with each
Ordinary Share carrying the right to one vote. The Company does not hold any
shares in treasury. The total number of voting rights in the Company is
therefore 114,054,834.

The above figure may be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Capitalised terms shall have the meanings set out in the Prospectus unless
otherwise defined.

Contact for queries:

David Fallon
FIL Investments International
Company Secretary
Telephone: [phone]