Transaction in Own Shares

Fidelity Japanese Values PLC announces that on 19 March 2008 the Company
repurchased 900,000 of its own shares for cancellation at a price of 45.625
pence per share. The total number of ordinary 25p shares now in issue is
95,827,453.

Mrs Tracey Cousins

For and on behalf of

Fidelity Investments International

Company Secretary

01737 836883

19 March 2008