Portfolio Update

Fidelity Special Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
August 2005, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
BG Group                                                4.5
                                                           
BP                                                      3.9
                                                           
Standard Chartered                                      3.9
                                                           
Statoil                                                 3.6
                                                           
Cairn Energy                                            3.5
                                                           
Roche Holdings Genussscheine                            3.5
                                                           
ITV                                                     3.4
                                                           
British Land                                            2.7
                                                           
Hilton Group                                            2.3
                                                           
Glaxosmithkline                                         2.0
                                                           
Total                                                  33.3

Contact for queries:

Name: Rebecca Burtonwood, Fidelity Investments International

Telephone: [phone]