Transaction in Own Shares

Fidelity Asian Values PLC announces that the Company, on 30 April 2007,
repurchased 1,000,000 of its own shares for cancellation at a price of 118.25
pence per share. The total number of shares now in issue is 110,857,200.

Graham Symonds

For and on behalf of Fidelity Investments International

Company Secretary

01737 837345

1 May 2007