Transaction in Own Shares

Fidelity Japanese Values PLC announces that on 27 June 2007 the Company
repurchased 280,000 of its own shares for cancellation at a price of 65.75
pence per share. The total number of ordinary 25p shares now in issue is
97,177,453.

Miss Tracey A Bennett

For and on behalf of

Fidelity Investments International

Company Secretary

01737 836883

28 June 2007