Amended announcement - Issue of equity

The issuer advises that the following replaces the issue of equity announcement
released on 27 July 2004 at 16:14 under RNS number PRNUK-2707041613-870B. The
number of shares allotted should have read 7,520 shares and not 10,943 as
previously announced. All other details remain unchanged. The full amended text
appears below.

Fidelity Special Values PLC announces that on 27 July 2004 the Company allotted
7,520 ordinary 25p shares at a price of 352 pence per share (which represents a
premium in excess of 2% over the latest net asset value) in respect of the
Fidelity Share Plan and ISA. The new shares will rank pari passu with existing
ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 63,344,962.