Portfolio Update

Fidelity European Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
September 2007, announced in accordance with Listing Rule LR 15.6.8R(2).

Security Description                                     % Gross Assets
                                                                       
E.On                                                                4.3
                                                                       
Allianz                                                             3.5
                                                                       
Societe Generale Paris                                              3.2
                                                                       
Siemens                                                             3.0
                                                                       
Arcelormittal (France)                                              2.6
                                                                       
Axa                                                                 2.4
                                                                       
Unicredito Italiano                                                 2.3
                                                                       
Electricite de France                                               2.2
                                                                       
Bayer                                                               2.1
                                                                       
Roche Holdings Genussscheine                                        2.1
                                                                       
TOTAL                                                              27.7
                                                                       

Contact for queries:

Name: Rebecca Burtonwood, Fidelity Investments International

2 October 2007

Telephone: [phone]