Statement re proposed share issue

Fidelity China Special Situations PLC -proposed share issue

In the period from admission to trading on the London Stock Exchange on 19
April 2010 to 8 November 2010, the net asset value per Share has increased from
99.01p to 115.02p, representing an increase of 16.2 per cent and the Share
price has increased from the issue price of 100p to 127.9p. As at 8 November
2010, the shares were trading at a premium to the latest published net asset
value of 9.67 per cent.

The NAV has over this period outperformed the benchmark MSCI China Index by
5.49 per cent.

In view of this and following the announcement on 1 November 2010 that the
Board were considering ways in which demand for the shares of the Company could
be satisfied, the Board now announces that it is intending to increase the
number of shares in issue, subject to shareholder approval, through an open
offer of shares in which priority will be given to shareholders as part of a
public offer for subscription and placing.

John Owen, Chairman of Fidelity China Special Situations PLC said, "The
continuing interest in the Company's shares has been very encouraging. The
proposed share issuance should help meet the demand from potential investors as
well as safeguarding the long term interests of the shareholders."

A further announcement with details of the new equity issue will be made in due
course but it is expected that the share offer will open in early January and
will, subject to the relevant regulatory and shareholder approvals, be
completed by the end of February 2011.

In the meantime the Board has the ability to issue up to a further 20,549,999
ordinary shares, without shareholder consent, under the existing facility.

Christopher Pirnie, FIL Investments International

Company Secretary

Contact for queries:

For Press Enquiries, please contact Anne Read on 020 7961 4409 or 07850 549839
and for all other queries, please contact the Company's Broker, Cenkos
Securities plc through Charlie Ricketts 020 7397 1910, Will Rogers 020 7397
1920 and Chris Lunn 0207 397 1912.