Issue of Subscription Shares

Fidelity Japanese Values PLC ("the Company")

Fidelity Japanese Values PLC announces that on 15 December 2014 the Company
issued and allotted 1,399 ordinary 25p shares with effect from 28 November 2014
in respect of shares arising on the exercise of the conversion rights attaching
to subscription shares.

The total issued ordinary share capital is now 114,002,314.

The conversion rights attaching to the remaining total of 22,743,381
subscription shares have not yet been exercised.

Natalia de Sousa
FIL Investments International, Company Secretary
01737 837132
 

15 December 2014