Proposed sub division of shares

Fidelity European Values PLC

Proposed sub division of shares

Fidelity European Values PLC (the "Company") has a large number of private
investors who invest in the Company through regular monthly savings plans and
who reinvest their dividends.

Since its launch at £1 per share on 1 November 1991, the Company's Share Price
has risen to £15.52 (15 January 2014). A consequence of the Company's share
price is that a notable proportion of individuals' monthly savings amounts and
dividends cannot be invested in a given month and have to be rolled over to the
following month. The Board is, therefore, proposing to sub divide on a 10-for-1
basis the Company's ordinary shares of 25 pence nominal each into ordinary
shares of 2.5 pence nominal each. This will enable monthly sums to be invested
more efficiently and enhance the appeal of the Company's shares to small
investors generally.

The Board intends to seek shareholder approval at the forthcoming AGM for the sub
division of its ordinary shares and will announce further details in relation
to the proposal in due course.

Contacts for queries:

Jenny Thompson, FIL Investments International
01737 836869

Neil Morgan, Winterflood Investment Trusts
020 3100 0292