Portfolio Update

Fidelity Special Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 31
August 2006, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
BP                                                      5.8
                                                           
Reed Elsevier                                           4.9
                                                           
Tesco                                                   4.2
                                                           
ITV                                                       4
                                                           
Astrazeneca                                             3.9
                                                           
GlaxoSmithKline                                         3.6
                                                           
Roche Holdings Genussscheine                            3.5
                                                           
Reuters                                                 2.6
                                                           
BG Group                                                2.5
                                                           
Standard Chartered                                      2.4
                                                           
Total                                                  37.4

Contact for queries:

Name: Julian Rhys, Fidelity Investments International

Telephone: [phone]