FAS Fidelity Asian Values Plc

Fidelity Asian Values PLC (the “Company”)

Subscription shares and subscription price

5 December 2016

Subscription Price

In connection with the Bonus Issue of Subscription Shares as detailed in the Company’s Prospectus dated 26 October 2016, the Subscription Price is equal to the published unaudited NAV per Ordinary Share as at 5.00 p.m. on 2 December 2016, plus a premium depending upon the year in which they are exercised. Accordingly, the Subscription Price will be as follows:

• if Subscription Shares are exercised to have effect on the last Business Day in November 2017, 370.75 pence, being a 1 percent premium to the NAV on 2 December 2016, rounded up to the nearest quarter penny;

• if Subscription Shares are exercised to have effect on the last Business Day in November 2018, 381.75 pence, being a 4 percent premium to the NAV on 2 December 2016, rounded up to the nearest quarter penny; and

• if Subscription Shares are exercised to have effect on the last Business Day in November 2019, 392.75 pence, being a 7 percent premium to the NAV on 2 December 2016, rounded up to the nearest quarter penny;

The NAV for the purpose of calculating the Subscription Price is the unaudited value of the Company’s assets calculated in accordance with the Company’s accounting policies (including revenue items for the current financial year) less all prior charges and other creditors at their fair value (including the costs of the Bonus Issue).

Allotment of Subscription Shares

The Board has today allotted 13,497,222 Subscription Shares.

Application has been made for admission of such Subscription Shares to the Official List and to trading on the main market of the London Stock Exchange. Dealings are expected to commence at 8.00 a.m. on 6 December 2016.

Following admission of these Subscription Shares there will be 67,488,213 Ordinary Shares and 13,497,222 Subscription Shares in issue. No shares are held in treasury.

The dealing codes for the Subscription Shares will be as follows:

ISIN: GB00BDQZFV55

SEDOL: BDQZFV5

Ticker: FASS

Timetable

Crediting of CREST stock accounts in respect of the Subscription Shares: 6 December 2016

Share certificates despatched in respect of the Subscription Shares: week commencing 19 December 2016

Your attention is drawn to the "Definitions" section of the Prospectus dated 26 October 2016 in respect of the terms used in this announcement.

For further information please contact: