Annual Information Update

Fidelity European Values PLC                          

In accordance with Prospectus Rule 5.2, the information published during the 12
months ended 31 December 2005 in respect of Fidelity European Values PLC is as
follows:-

Further details may be obtained from the Company Secretary or from the London
Stock Exchange website (www.londonstockexchange.com/rns)

All of the information was notified via PRNewswire. Please note that some of
the information announced during the period may now be out of date.

The Company's net asset values have been announced each business day during the
past year. These are not separately noted in the schedule below.

Notifiable event                                                 Date of       
                                                                 announcement  
                                                                               
Portfolio update as at 31 December 2004                          05.01.05      
                                                                               
Confirmation of filing monthly factsheet as at 31 December 2004  19.01.05      
with Document Disclosure team                                                  
                                                                               
Confirmation of filing monthly factsheet as at 31 January 2005   16.02.05      
with Document Disclosure team                                                  
                                                                               
Final results for the year ended 31 December 2004                01.03.05      
                                                                               
Confirmation of filing monthly factsheet as at 28 February 2005  08.03.05      
with Document Disclosure team                                                  
                                                                               
Director shareholding - David Simpson                            14.03.05      
                                                                               
Blocklisting return - ISA for six months to 14 March 2005        14.03.05      
                                                                               
Confirmation of filing annual report and proxy form with the     23.03.05      
Document Disclosure team                                                       
                                                                               
Portfolio update as at 31 March 2005 - top 10 investments and    04.04.05      
holdings over 5%                                                               
                                                                               
Confirmation of filing monthly factsheet as at 31 March 2005     15.04.05      
with Document Disclosure team                                                  
                                                                               
Confirmation of filing monthly factsheet as at 30 April 2005     13.05.05      
with Document Disclosure team                                                  
                                                                               
Blocklisting return - Share Plan and ISA for six months to 17    17.05.05      
May 2005                                                                       
                                                                               
Result of AGM                                                    19.05.05      
                                                                               
Confirmation of filing AGM resolutions                           20.05.05      
                                                                               
Director shareholding - Simon Fraser                             26.05.05      
                                                                               
Loan - entering into of €40m loan agreement                      20.06.05      
                                                                               
Loan - drawdown of €40m loan                                     22.06.05      
                                                                               
Confirmation of filing monthly factsheet as at 31 May 2005 with  22.06.05      
Document Disclosure team                                                       
                                                                               
Portfolio update as at 30 June 2005                              04.07.05      
                                                                               
Confirmation of filing monthly factsheet as at 30 June 2005 with 15.07.05      
Document Disclosure team                                                       
                                                                               
Interim results                                                  25.07.05      
                                                                               
Major shareholding - Barclays PLC                                29.07.05      
                                                                               
Confirmation of filing monthly factsheet as at 31 July 2005 with 23.08.05      
Document Disclosure team                                                       
                                                                               
Confirmation of filing monthly factsheet as at 31 August 2005    13.09.05      
with Document Disclosure team                                                  
                                                                               
Blocklisting return - ISA for six months to 14 September 2005    14.09.05      
                                                                               
Portfolio update to 30 September 2005                            04.10.05      
                                                                               
Confirmation of filing monthly factsheet as at 30 September 2005 17.10.05      
with Document Disclosure team                                                  
                                                                               
Loan - entering into €35 million loan agreement                  21.11.05      
                                                                               
Blocklisting return - ISA and Share Plan for six months to 17    21.11.05      
November 2005                                                                  
                                                                               
Loan - drawdown of €35 million                                   22.11.05      
                                                                               
Confirmation of filing monthly factsheets as at 31 October 2005  16.12.05      
and 30 November 2005 with Document Disclosure team                             

Contact details for queries:

Stephen Westwood

Head of Investment Trusts, Fidelity

Tel: [phone]

Rebecca Burtonwood

For and on behalf of

Fidelity Investments International

Company Secretary

01737 836 869