Portfolio Update

Fidelity Special Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 28
February 2006, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
Roche Holdings Genussscheine                            5.0
                                                           
BP                                                      4.4
                                                           
BG Group                                                4.0
                                                           
GlaxoSmithKline                                         4.0
                                                           
Reed Elsevier                                           3.8
                                                           
Standard Chartered                                      3.6
                                                           
ITV                                                     3.1
                                                           
Cairn Energy                                            2.8
                                                           
Statoil Asa                                             2.7
                                                           
British Land                                            2.6
                                                           
Total                                                  36.0

Contact for queries:

Name: Tracey Bennett, Fidelity Investments International

Telephone: [phone]