Amendment to Management Agreement

The Board of Fidelity Asian Values PLC announces that following the annual
review of the Management and Secretarial Agreement dated 15 May 1996, between
the Company and Fidelity Investments International ('the Agreement') the
parties have agreed that the notice period for termination of the Agreement by
either party should be reduced from twelve months to six months with effect
from 6 February 2006.

The Board believes that this change is in the interests of shareholders as a
whole.

7 February 2006

Contact for queries:

Stephen Westwood, Head of Investment Trusts,

Fidelity Investments International

Telephone: [phone]

Graham Symonds, Head of Secretariat,

Fidelity Investments International

Telephone: [phone]