Portfolio Update

Fidelity Asian Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
January 2007 announced in accordance with Listing Rule LR 15.4.11R(2)

Security Description                                 % Gross Assets
                                                                   
Li and Fung                                                     4.3
                                                                   
China Mobile                                                    4.1
                                                                   
Taiwan Semiconductor Manufacturing                              4.1
                                                                   
Hon Hai Precision Industry                                      3.9
                                                                   
Samsung Electronics                                             3.2
                                                                   
Midas Holdings                                                  2.9
                                                                   
NHN                                                             2.8
                                                                   
China Merchants Bank                                            2.7
                                                                   
Hang Seng Bank                                                  2.6
                                                                   
Gamuda                                                          2.6
                                                                   
                                                               33.2
                                                                   

Contact for queries:

Name: Julian Rhys, Fidelity Investments International

Telephone: [phone]