Directorate Change

The Board of Fidelity Special Values PLC is pleased to announce that Ms Lynn
Ruddick has been appointed as a non-executive Director of the Company with
effect from 22 July 2005.

Ms Ruddick is a Fellow of the Chartered Association of Certified Accountants
(FCCA) and a Member of the Securities Institute. She is a Member of the
Investment Committee and Chairman of the Pension Fund Trustee Board of Western
Provident Association (WPA Pension Trustees Limited), non-executive director of
British Assets Trust plc, and Member of the Investment Committee of Pearson
Group Pension Plan.

Ms Ruddick was a Director of The National Association of Pension Funds until
2001.

It is confirmed that there is no information to be disclosed under Listing Rule
9.6.13 R (2) to (6).

Rebecca Burtonwood

Fidelity Investments International

Company Secretary

Tel: [phone]