Conversion of subscription share rights

FIDELITY JAPANESE VALUES PLC

Conversion of rights attaching to Subscription Shares and Final Exercise Date

1 March 2013


The Company announces that it has issued and allotted 7,019,489 ordinary shares
of 25p each in the capital of the Company ("Ordinary Shares") today.  Such
issuance was made following the exercise of 7,019,489 subscription shares, each
of which confers the right to subscribe for one Ordinary Share at a price of
55p (the "Exercise Price") per share ("Subscription Shares") in the period to
28 February 2013 (the "Final Exercise Date"). 

Total Voting Rights

Following the issue of new Ordinary Shares noted above, the Company's issued
share capital consists of 103,854,825 Ordinary Shares, with each share carrying
the right to one vote, and 10,200,009 Subscription Shares.  The Company holds
no shares in Treasury.

Therefore, the total number of voting rights in the Company is 103,854,825.

The above figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Outstanding Subscription Shares

Thursday, 28 February 2013 was the final exercise date for the Subscription
Shares.  As at close of business on the Final Exercise Date, 10,200,009
Subscription Shares remain unexercised.  In accordance with the terms and
conditions on which the Subscription Shares were issued (as set out in the
prospectus published by the Company on 15 October 2009 (the "Prospectus")), the
Company has appointed a final subscription trustee ("Trustee").  If the Trustee
determines that there would be net proceeds (having taken account of the
Exercise Price payable to the Company and all costs and expenses of exercise
from the sale of Ordinary Shares arising on the exercise of the Subscription
Rights), then the Trustee will exercise all such unexercised Subscription
Rights.  The Trustee will distribute the net proceeds of any such sale (after
deduction of the costs and expenses) to holders of unexercised Subscription
Rights by no later than 5 April 2013, save that, in accordance with the
Articles of Association, aggregate entitlements per holder of less than £5.00
shall be retained for the benefit of the Company.

If the Trustee does not exercise the Subscription Rights conferred by the
outstanding Subscription Shares by 14 March 2013, all Subscription Rights
conferred by the Subscription Shares will lapse with nil value.  The Trustee's
decision is final and binding on all outstanding Subscription Shareholders.


Contact for queries:

David Fallon
FIL Investments International
Company Secretary
Telephone: [phone]