Net Asset Value(s)

Daily NAV Announcement

Fidelity Asian Values Plc

The net asset value (unaudited) for the above fund at midday on 01/12/2005 was:

With debt at par (undiluted): 102.45p.

With debt at fair value (undiluted):  102.38p.

With debt at par (diluted):  102.01p.

With debt at fair value (diluted):   101.95p.

NB. Revenue to date is included in the Net Asset Value calculations.