Sub-Division of Shares

Fidelity European Values PLC

Sub division of shares

30 May 2014

On 15 May 2014 shareholders of Fidelity European Value PLC ("FEV" or the
"Company") approved the sub-division of the Company's ordinary shares of 25p
each (each an "Existing Ordinary Share") into ten ordinary shares of 2.5p each
(each a "New Ordinary Share"), to be effected following completion of the
Company's dividend reinvestment programme. The dividend reinvestment is
complete and, accordingly, the Company is in a position to effect the
sub-division.

The last day of trading in the Existing Ordinary Shares will be today, 30 May
2014, following which the sub-division will take effect and it is expected that
the New Ordinary Shares will be admitted to trading on the main market of the
London Stock Exchange on 2 June 2014. CREST accounts will be credited with New
Ordinary Shares on 2 June 2014 and share certificates in respect of the New
Ordinary Shares are expected to be posted to shareholders on 16 June 2014. The
New Ordinary Shares will have a new ISIN (GB00BK1PKQ95) and new SEDOL (BK1PKQ9)
but the ticker for the New Ordinary Shares will be the same as the ticker for
the Existing Ordinary shares (FEV).

The New Ordinary Shares will rank pari passu with each other and will be
subject to the same rights and restrictions as the Existing Ordinary Shares. A
holding of New Ordinary Shares following the sub-division will represent the
same proportion of the issued ordinary share capital of the Company as the
corresponding holding of Existing Ordinary Shares.

On the basis that there are currently 41,792,173 Existing Ordinary Shares in
issue, following completion of the sub-division there will 417,921,730 New
Ordinary Shares in issue. Therefore, as of 2 June 2013, the total number of
voting rights in the Company will be 417,921,730.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure and Transparency Rules.

Contacts for queries:

Christopher Pirnie, FIL Investments International

01737 837929

Neil Morgan, Winterflood Investment Trusts

020 3100 0292