Issue of Equity

Fidelity Japanese Values PLC

Fidelity Japanese Values PLC announces that on 8 November 2010 the Company
issued and allotted 3,363 ordinary 25p shares with effect from 29 October 2010
in respect of shares arising on the exercise of the conversion rights attaching
to subscription shares.

The total issued ordinary share capital is now 95,683,574.

The conversion rights attaching to a total of 19,009,260 subscription shares
have not yet been exercised.

Rebecca Burtonwood

FIL Investments International, Company Secretary

01737 836869