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Fidelity Jap.OTC (26GU)

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Monday 31 January, 2000

Fidelity Jap.OTC

Results of EGM

Fidelity Japan OTC&Regional Mkts Fd
31 January 2000

                  FIDELITY JAPAN OTC & REGIONAL MARKETS FUND 
                            LIMITED (the 'Company')
                     RECOMMENDED RECONSTRUCTION PROPOSALS

The Board of Fidelity Japan OTC & Regional Markets Fund Limited announces 
that at the First Extraordinary General Meeting of the Company held earlier 
today, the special resolutions to approve the implementation of the 
proposed scheme for the reconstruction of the Company were duly passed.

The Proposals will become effective following the passing of the special 
resolution to wind up the Company to be proposed at the Second 
Extraordinary General Meeting to be held on Friday, 10th March 2000 at 5.45 
p.m. (Paris time).

The Company announces that its shareholders have elected or are deemed to 
have elected for the options available under the reconstruction as follows:


                                                  No. of shares         %
Fidelity Funds SICAV - Emerging Japan Fund          1,856,400      30.94%
Fidelity Funds SICAV - US Dollar Fund               4,143,600      69.06%
(of which Redemption Option                         4,143,450)


The last day for dealings in the Ordinary Shares on the London Stock 
Exchange on a normal five day rolling settlement basis was Friday, 28th 
January, 2000.  The register of Shareholders of the Company will be closed 
at the close of business today.

Enquiries:
Alex Hammond-Chambers      Chairman, Fidelity Japan OTC &      0131 222 9430
                           Regional Markets Fund Limited

Barbara Powley             Fidelity International Limited      01737 836 883

Nicholas Gold              ING Barings Limited                 0171 767 1000
William Marle

                                                                                                                                                                                                                                            

a d v e r t i s e m e n t