Allotment of shares on exercise of warrants

Fidelity Asian Values PLC

Fidelity Asian Values PLC announces that on 2 December 2005 the Company issued
and allotted 5,812 ordinary shares of 25p each in respect of shares arising on
the exercise of warrants with effect from 30 November 2005. The total number of
ordinary shares in issue is now 93,511,465 and the number of warrants in issue
20,462,735. The remaining warrants may be exercised on 30 November 2006 and any
remaining after that date will lapse.

2 December 2005