Diversity

Fidelity European Values PLC

Women on Boards

The Board of Fidelity European Values PLC supports the recommendations of Lord
Davies of Abersoch in his report, "Women on Boards", published in 2011.

The Board has specifically considered the issues detailed therein and declares
its policy as follows:

" The Board aims to have a balance of skills, expertise, length of service and
knowledge of the Company represented on the Board. The Board carries out its
candidate searches with full regard to the benefits of diversity, including
gender, drawing from the widest possible pool of talent against a set of
objective criteria, and makes its appointments on the basis of merit.

The Board notes the findings of the Davies Report and its recommendation that
FTSE 350 companies should set out the percentage of women that they aim to have
on their boards in 2013 and 2015.  In this context, the Board hopes to achieve
at least 20% female representation on the Board between 2013 - 2015. Further
reporting on this will be set out in the Company's annual Corporate Governance
Statement."

The Company has no employees and has no further disclosures to make in this
regard.

Rebecca Burtonwood

For and on behalf of

FIL Investments International

Company Secretary

24 January 2012