Portfolio Update

Fidelity Special Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 28
February 2007, announced in accordance with Listing Rule LR 15.4.11R(2).

Security Description                         % Gross Assets
                                                           
Tesco                                                   5.4
                                                           
Reed Elsevier                                           4.3
                                                           
Vodafone Group                                          4.3
                                                           
Statoil Asa                                             3.0
                                                           
Shire                                                   3.0
                                                           
Reuters Group                                           2.8
                                                           
British Sky Broadcasting (BSkyB)                        2.6
                                                           
Astrazeneca (UK)                                        2.5
                                                           
BG Group                                                2.1
                                                           
ITV                                                     2.0
                                                           
Total                                                  32.0

Contact for queries:

Name: Tracey Bennett, Fidelity Investments International

Telephone: [phone]