Portfolio Update

Fidelity Asian Values PLC

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

Security Description                                 % Gross Assets
                                                                   
Samsung Electronics                                             4.7
                                                                   
Hon Hai Precision Industry                                      4.3
                                                                   
China Mobile                                                    4.2
                                                                   
Li and Fung                                                     4.0
                                                                   
Taiwan Semiconductor Manufacturing                              3.4
                                                                   
Cheung Kong Holdings                                            3.0
                                                                   
China Merchants Bank                                            3.0
                                                                   
Gamuda                                                          2.6
                                                                   
Doosan Heavy Industry & Construction                            2.4
                                                                   
Hang Seng Bank                                                  2.4
                                                                   
Total                                                          34.0
                                                                   

Contact for queries:

Name: Julian Rhys, Fidelity Investments International

Telephone: [phone]