Amended announcement - Top 10 and holdings over 5%

Fidelity Japanese Values PLC

The issuer advises that the following replaces the top 10 and holdings over 5%
announcement released on 5 January 2004 at 15.59 under RNS number
PRNUK-0501041557-9179. The holdings referred to have been amended and the full
amended text appears below.

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
December 2003, announced in accordance with Listing Rule 21.20 (l) (ii).

Security Description                                         % Gross Assets
                                                                           
PACIFIC METALS                                                          2.2
                                                                           
ARRK                                                                    2.1
                                                                           
FUJIKURA                                                                1.9
                                                                           
CHIYODA INTEGRE                                                         1.9
                                                                           
SODICK                                                                  1.7
                                                                           
DOSHISHA                                                                1.7
                                                                           
DON QUIJOTE                                                             1.7
                                                                           
GOODWILL GROUP                                                          1.6
                                                                           
LAWSON                                                                  1.6
                                                                           
USS                                                                     1.6
                                                                           
TOTAL                                                                  18.0