Result of AGM

Fidelity Japanese Values PLC
26 April 2001



At the Company's Annual General Meeting held on 26 April 2001, all resolutions
were duly passed.

The resolutions passed under Special Business were as follows:

- The Directors' authority to allot a limited number of currently unissued
ordinary shares for cash, without first offering such shares to existing
ordinary shareholders pro-rata to their existing holdings, has been renewed.

- The Company's authority to purchase up to 15,000,000 of its own shares for
cancellation has been renewed. This represents approximately 14.6% of the
number of ordinary shares in issue on 27 February 2001.

- The Company is to continue as an investment trust.