Net Asset Value(s)

Daily NAV Announcement

Fidelity Asian Values Plc

The net asset value (unaudited) for the above fund at midday on 05/12/2005 was:

With debt at par (undiluted): 103.52p.

With debt at fair value (undiluted):  103.45p.

With debt at par (diluted):  102.88p.

With debt at fair value (diluted):   102.83p.

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