Loan repayment

The Board of Fidelity European Values PLC announces that on 24 November 2008
the Company repaid the €35,000,000 fixed term loan facility with Lloyds TSB
Bank plc which matured on that date.

The Company now has the following loans in place:-

€40,000,000 at 3.23% with Lloyds TSB Bank plc repayable on 22 June 2010

€65,000,000 at 4.38% with Barclays Bank PLC repayable on 15 December 2011

€25,000,000 revolving credit facility (currently nil drawn down) with a final
repayment date on 15 December 2011

Enquiries:

Rebecca Burtonwood, FIL Investments International, Company Secretary 01737 836
869

25 November 2008