Transaction in Own Shares

Fidelity Japanese Values PLC announces that on 18 January 2008 the Company
repurchased 100,000 of its own shares for cancellation at a price of 49.5 pence
per share. The total number of ordinary 25p shares now in issue is 96,927,453.

Miss Tracey A Bennett

For and on behalf of

Fidelity Investments International

Company Secretary

01737 836883

18 January 2008