Net Asset Value(s)

Daily NAV Announcement

Fidelity European Values Plc

The net asset value (unaudited), with securities valued at bid, for the above
fund at close of business on 21/05/2007 was:

With debt at par: 1,448.79p

With debt at fair value: 1,451.54p

NB. Revenue to date is included in the Net Asset Value calculation.