Top 10 investments and holdings over 5%

Fidelity Asian Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
April 2004 announced in accordance with Listing Rule 21.20(1)(ii).

Security Description                                           % Gross Assets
                                                                             
SAMSUNG ELECTRONICS                                                      11.2
                                                                             
KOOKMIN BANK NEW                                                          2.6
                                                                             
HUTCHISON WHAMPOA                                                         2.5
                                                                             
CHEUNG KONG HOLDINGS                                                      2.5
                                                                             
ESPRIT HOLDINGS                                                           2.3
                                                                             
CHINA MOBILE (HK)                                                         2.1
                                                                             
BERJAYA SPORTS TOTO                                                       2.0
                                                                             
CHINA STEEL                                                               1.9
                                                                             
SK                                                                        1.9
                                                                             
KEPPEL (SG)                                                               1.9
                                                                             
                                                                         30.9