Possible Bonus Issue of Subscription Shares

Fidelity Japanese Values PLC                          

                  Possible Bonus Issue of Subscription Shares                  

The Board of Fidelity Japanese Values PLC (the "Company") announces that it is
considering a bonus issue of subscription shares to ordinary shareholders on
the basis of one subscription share for every five ordinary shares held (the
"Bonus Issue").

The Board believes that, over the medium term, investment in Japan will deliver
capital growth and that subscription shares represent an attractive option for
shareholders to subscribe in the future for further ordinary shares in the
Company. In addition, the Bonus Issue may broaden the Company's shareholder
base as the subscription shares are dispersed in the market, attracting new
investors and improving liquidity for shareholders.

A further announcement will be made in due course.

The final results for the Company for the year ended 31 March 2014 will be
released shortly to the market.

Christopher Pirnie

Head of UK Company Secretariat

For and on behalf of FIL Investments International

Company Secretary

01737 837929

27 March 2014

Enquiries:

Robbie Robertson, Canaccord Genuity 020 7523 8474

Lucy Lewis, Canaccord Genuity 020 7523 8360

David Yovichic, Canaccord Genuity: 020 7523 8361