Annual Information Update

Fidelity Japanese Values PLC                          

In accordance with Prospectus Rule 5.2, the information published during the 12
months ended 31 December 2005 in respect of Fidelity Japanese Values PLC is as
follows:-

Further details may be obtained from the Company Secretary or from the London
Stock Exchange website (www.londonstockexchange.com/rns).

All of the information was notified via PRNewswire. Please note that some of
the information announced during the period may now be out of date.

The Company's net asset values have been announced each business day during the
past year. These are not separately noted in the schedule below.

Subject/Notifiable Event                                Date SX notified   
                                                                           
Portfolio update - top 10 investments & holdings over   05.01.05           
5%                                                                         
                                                                           
Confirmation of filing monthly factsheet (sent for      19.01.05           
filing 19.01.05)                                                           
                                                                           
Block listing return for July 2004 to January 2005 (nil 19.01.05           
return)                                                                    
                                                                           
Confirmation of filing monthly factsheet as at 31       16.02.05           
January 2005 with Document Disclosure team                                 
                                                                           
Confirmation of filing monthly factsheet as at 28       08.03.05           
February 2005 with Document Disclosure team                                
                                                                           
Preliminary Results to 31 December 2004                 11.03.05           
                                                                           
Schedule 10 confirmation - Nortrust Nominees Limited    23.03.05           
                                                                           
Resignation of Sir John Stanley as director             31.03.05           
                                                                           
Confirmation of filing Annual Report and proxy form     04.04.05           
                                                                           
Portfolio update - top 10 investments & holdings over   04.04.05           
5% as at 31 March 2005                                                     
                                                                           
Correction to Annual Report                             08.04.05           
                                                                           
Schedule 10 confirmation - NFU                          12.04.05           
                                                                           
Confirmation of filing monthly factsheet as at 31 March 15.04.05           
2005 with Document Disclosure team                                         
                                                                           
AGM results                                             10.05.05           
                                                                           
AGM resolutions - sent for filing 11.05.05              11.05.05           
                                                                           
Confirmation of filing monthly factsheet as at 30 April 15.05.05           
2005 with Document Disclosure team                                         
                                                                           
Director shareholding - P Kay (notified 27.05.05)       27.05.05           
                                                                           
Confirmation of filing monthly factsheet as at 31 May   22.06.05           
2005 with Document Disclosure team                                         
                                                                           
Portfolio update as at 30 June 2005                     04.07.05           
                                                                           
Confirmation of filing monthly factsheet as at 30 June  15.07.05           
2005 with Document Disclosure team                                         
                                                                           
Block listing return for January 2005 - July 2005       19.07.05           
                                                                           
Interim results 2005 - approval 28/07/05                28.07.05           
                                                                           
Confirmation of filing monthly factsheet as at 31 July  23.08.05           
2005 with Document Disclosure team                                         
                                                                           
Confirmation of filing monthly factsheet as at 31       13.09.05           
August 2005 with Document Disclosure team                                  
                                                                           
Substantial shareholding - Fidelity International       20.09.05           
Limited                                                                    
                                                                           
Substantial shareholding - Fidelity International       22.09.05           
Limited                                                                    
                                                                           
Substantial shareholding - Fidelity International       30.09.05           
Limited                                                                    
                                                                           
Portfolio update as at 30 September 2005                30.09.05           
                                                                           
Substantial shareholding - Asset Value Investors        13.10.05           
Limited - notification received 13.10.05                                   
                                                                           
Substantial shareholding - Asset Value Investors        15.10.05           
Limited - notification of error in previous declaration                    
received from Asset Value Investors Limited 14.10.05                       
                                                                           
Confirmation of filing monthly factsheet as at 30       17.10.05           
September 2005 with Document Disclosure team                               
                                                                           
Substantial shareholding - Asset Value Investors        01.12.05           
Limited                                                                    
                                                                           
Substantial shareholding - British Empire Securities    08.12.05           
(notification received 08/12/05)                                           
                                                                           
Substantial shareholding - Asset Value Investors        13.12.05           
Limited                                                                    
                                                                           
Application for blocklisting 1,600,000 shares           13.12.05           
                                                                           
Substantial shareholding - Asset Value Investors        14.12.05           
Limited                                                                    
                                                                           
Substantial shareholding - British Empire Securities    20.12.05           
(notification received 20/12/05)                                           
                                                                           
Substantial shareholding - Asset Value Investors        21.12.05           
Limited (notification received 21.12.05)                                   
                                                                           
Substantial shareholding - British Empire Securities    22.12.05           
and General Trust plc                                                      
                                                                           
Confirmation of filing monthly factsheet as at 30       16.12.05           
November 2005 with Document Disclosure team                                

Contact details for queries:

Stephen Westwood

Head of Investment Trusts, Fidelity

Tel: [phone]

Miss Tracey Bennett

For and on behalf of

Fidelity Investments International

Company Secretary

01737 836 883