Result of AGM

Fidelity European Values PLC
22 May 2001



At the Company's Annual General Meeting held on 22 May 2001, all resolutions
were duly passed.

The resolutions passed under Special Business were as follows:

- The Directors' authority to allot a limited number of currently unissued
ordinary shares for cash, without first offering such shares to existing
ordinary shareholders pro-rata to their existing holdings, has been renewed.

- The Company's authority to purchase up to 14.9% of its own shares in issue
on 27 February 2001 for cancellation has been renewed. The maximum number of
shares to be purchased is 8,700,000 ordinary shares.

- The Company is to continue as an investment trust and the Equity
Index-Linked Loan Stock shall be refinanced by way of bank debt.