Interim Management Statement

FIDELITY CHINA SPECIAL SITUATIONS PLC - INTERIM MANAGEMENT STATEMENT FOR THE     
QUARTER ENDED 30 JUNE 2012                                                       
                                                                                 
Issued pursuant to the requirements of Chapter 4 of the Disclosure and           
Transparency Rules                                                               
                                                                                 
Objective                                                                        
                                                                                 
Fidelity China Special Situations PLC is focused on the long-term growth         
potential of China. The portfolio is made up primarily of securities issued by   
companies listed in China or Hong Kong and Chinese companies listed elsewhere.   
It may also invest in listed companies with significant interest in China and    
Hong Kong.                                                                       
                                                                                 
Benchmark                                                                        
                                                                                 
MSCI China Index (Sterling Equivalent)                                           
                                                                                 
Review of Period (total return)                                                  
                                                                                 
During the period:                                                               
                                                                                 
- the NAV decreased by 7.38% (debt at par) against a 3.71% decrease for the      
benchmark.                                                                       
                                                                                 
- the share price decreased by 6.68%                                             
                                                                                 
- main portfolio changes are detailed in the top ten holdings below              
                                                                                 
Gearing exposure was 128.85% on 30 June 2012.                                    
                                                                                 
Material transactions                                                            
                                                                                 
- During the period 4,325,000 shares were repurchased for cancellation.          
                                                                                 
- Since the quarter end 1,000,000 shares have been repurchased for               
cancellation.                                                                    
                                                                                 
Material Events                                                                  
                                                                                 
The Annual Report as at 31 March 2012 was published on 25 June 2012.             
                                                                                 
The Annual General Meeting of the Company was held on 24 July 2012 at which all  
resolutions were passed.                                                         
                                                                                 
Additional Information                                                           
                                                                                 
Details of the Company                                 Dealing Information       
                                                                                 
Fund Manager: Anthony Bolton                           Listed:       London Stock
                                                                     Exchange    
                                                                                 
Enquiries:    08457 100 456                            Broker:       Cenkos      
                                                                                 
WWW Address:  www.fidelity.co.uk/its                   Price Quoted: Financial   
                                                                     Times       
              Copies of major                                                    
              announcements and                                                  
              documentation relating                                             
              to the Company may be                                              
              found on the website                                               
                                                                                 
Launch Date:  19 April 2010                            Reuters Code: FCSS        
                                                                                 
              As at 30 June 2012     As at 9 August    SEAQ Code:    B62Z3C7     
                                     2012                                        
                                                                                 
Ordinary      657,879,480            656,879,480       ISIN:         GB00B62Z3C74
Shares In                                                                        
Issue:                                                                           
                                                                                 
Share price   3.91%                  4.80%             Registered                
discount to                                            office                    
NAV:                                                                             
                                                                                 
Total Assets: £611.8m                £610.1m           Beech Gate                
                                                                                 
                                                       Millfield                 
Loan:         £95.6m                 £96.0m            Lane                      
                                                                                 
                                                       Lower                     
Total Net     £516.2m                £514.1m           Kingswood                 
Assets:                                                                          
                                                       Tadworth                  
                                                                                 
Gearing       128.85%                120.42%           Surrey KT20               
Exposure :                                             6RP                       
                                                                                 
                                                                                 
The Company's net asset value per share is announced daily and may be found on   
the Stock Exchange website www.londonstockexchange.com                           
                                                                                 
                             Portfolio Breakdowns                                
                                                                                 
Industry      As at 30     As at 31    Largest 10        As at 30    As at 31    
Analysis (%   June 2012    March 2012  Holdings (% total June 2012   March 2012  
total assets)                          assets)                                   
                                                                                 
Consumer      27.9         27.9        Ping An Insurance 5.9         4.6         
Discretionary                          (Group) Company                           
                                       of China                                  
                                                                                 
Financials    25.9         24.7        TVB               4.1         2.8         
                                                                                 
Health Care   14.2         10.4        Bank of China     3.8         3.4         
                                       Hong Kong                                 
                                                                                 
IT            13.4         11.8        AIA Group         3.1         3.0         
                                                                                 
Consumer      4.9          7.6         Wing Hang Bank**  2.8         -           
Staples                                                                          
                                                                                 
Telecom       4.2          8.3         Citic Securities  2.6         -           
Services                               Company**                                 
                                                                                 
Materials     4.0          3.9         China Unicom      2.6         4.3         
                                       (Hong Kong)                               
                                                                                 
Industrials   2.6          2.2         Rexlot            2.6         2.9         
                                                                                 
Energy        1.9          0.6         HSBC Holdings     2.6         4.2         
                                                                                 
Utilities     1.0          0.0         Wuxi Pharma Tech  2.2                     
                                                                                 
Cash          0.0          1.9         HKT Trust and HKT -           3.6         
                                       Limited*                                  
                                                                                 
                                       Zhaojin Mining    -           2.3         
                                       Industry Company*                         
                                                                                 
                                       Asiainfo Linkage  -           2.1         
                                       *                                         
                                                                                 
                                       * Not currently in the top 10 holdings    
                                                                                 
                                       ** Not in the top 10 holdings as at 31    
                                       March 2012                                

                   Price at 30  Quarter to 30   Quarter to 31   1 Year to 30
                   June 2012    June 2012       March 2012      June 2012   
                   (p)                                                      
                                                                            
NAV (debt at par)  78.47        -7.38                10.74         -18.48   
                                                                            
Ordinary Share     75.40        -6.68                9.93          -26.36   
price                                                                       
                                                                            
Benchmark Index                 -3.71                6.91          -12.55   
                                                                            

As at 9 August 2012 the Company's NAV per share was 78.26p (debt at par) and
the Company's share price was 74.50p per share.

By order of the Board

Christopher Pirnie

For and on behalf of FIL Investments International

Company Secretary

10 August 2012

Past performance is not a guide to future returns. The value of investments can
go down as well as up. For funds that invest in overseas markets, changes in
currency exchange rates may affect the value of an investment. Investments in
small and emerging markets can be more volatile than other more developed
markets. Source of performance: Fidelity and Datastream as at 30 June 2012.
Basis: bid-bid with net income reinvested. Fidelity only gives information
about its own products and services and does not provide investment advice
based on individual circumstances.