Transaction in Own Shares

Fidelity Asian Values PLC announces that the Company, on 18 May 2007,
repurchased 1,000,000 of its own shares for cancellation at a price of 125
pence per share. The total number of shares now in issue is 109,857,200.

Graham Symonds

For and on behalf of Fidelity Investments International

Company Secretary

01737 837345

18 May 2007