Portfolio Update

Fidelity Special Values PLC

4 December 2007

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
November 2007, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
Vodafone Group                                          5.1
                                                           
Glaxosmithkline                                         4.7
                                                           
BG Group                                                4.7
                                                           
StatoilHydro                                            4.0
                                                           
Reed Elsevier                                           3.9
                                                           
Bayer                                                   3.7
                                                           
Alliance and Leicester                                  3.7
                                                           
British Sky Broadcasting (BSkyB)                        3.7
                                                           
Tesco                                                   3.5
                                                           
HSBC Holdings (UK reg)                                  3.2
                                                           
Total                                                  40.2

Contact for queries:

Name: Mrs Tracey A Cousins, Fidelity Investments International

Telephone: [phone]