Proposed Bonus Issue of Subscription Shares

Proposed Bonus Issue of Subscription Shares                  

The Board of Fidelity Asian Values PLC (the "Company") announces that it is
considering proposals for a bonus issue of subscription shares to ordinary
shareholders on the basis of one subscription share for every five ordinary
shares held.

Subscription shares have similar characteristics to warrants in that they carry
the right (but not the obligation) to convert into ordinary shares during a
pre-determined future period at a pre-determined price.

The Board believes that a bonus issue of subscription shares will be
advantageous to shareholders since it will provide them with additional
tradable securities which they can retain, for subsequent conversion into
ordinary shares, or sell in the market at their discretion.

Subscription shares converted into ordinary shares will increase the capital
base of the Company, allowing operating costs to be spread across a larger
number of ordinary shares and the total expense ratio to fall. Increasing the
number of ordinary shares in issue may also improve the future liquidity in the
market of the ordinary shares.

The proposed bonus issue of subscription shares is subject to continued
discussions with the Company's shareholders and a further announcement setting
out the principal terms of the subscription shares will be made when
appropriate.

For further information please contact:

Rebecca Tyerman                                          01737 837758       
                                                                            
FIL Investments International, Company Secretary                            
                                                                            
Chris Davies                                             01737 837723       
                                                                            
Head of Investment Trusts                                                   

5 January 2010