Portfolio Update

Fidelity European Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30 June
2007, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                                     % Gross Assets
                                                                       
E.On                                                                4.1
                                                                       
Siemens                                                             3.4
                                                                       
Societe Generale Paris                                              3.4
                                                                       
Allianz                                                             3.4
                                                                       
Electricite de France                                               2.7
                                                                       
Axa                                                                 2.4
                                                                       
Unicredito Italiano                                                 2.1
                                                                       
Roche Holdings Genussscheine                                        2.1
                                                                       
UBS (Regd)                                                          1.9
                                                                       
Alfa Laval                                                          1.8
                                                                       
TOTAL                                                              27.3
                                                                       

Contact for queries:

Name: Rebecca Burtonwood, Fidelity Investments International

Telephone: [phone]