Portfolio Update

Fidelity Special Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
November 2005, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
BP                                                      4.5
                                                           
BG Group                                                4.3
                                                           
Roche Holdings Genussscheine                            4.3
                                                           
British Land                                            3.6
                                                           
Reed Elsevier                                           3.6
                                                           
Standard Chartered                                      3.5
                                                           
GlaxoSmithKline                                         3.4
                                                           
ITV                                                     3.2
                                                           
Cairn Energy                                            3.2
                                                           
Statoil                                                 3.2
                                                           
Total                                                  36.8

Contact for queries:

Name: Tracey Bennett, Fidelity Investments International

Telephone: [phone]