Holding(s) in Company

SCHEDULE 11                                  
                                                                               
         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS          

1) Name of company


Fidelity Special Values PLC


2) Name of director

Robert Alexander Hammond-Chambers

3) Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

Non-beneficial interest


4) Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)


Trusts held through Adam & Company of which Mr Hammond-Chambers is a trustee

5) Please state whether notification relates to a person(s) connected with the
Director named in 2 above and identify the connected person(s)

James Tait Laurenson, a Director of Fidelity Special Values PLC

6) Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary


Change of trusteeship. Mr Hammond-Chambers is no longer a trustee in respect of
one trust which holds 6,000 shares in the Company.

7) Number of shares/amount of stock acquired


n/a


8) Percentage of issued class


n/a


9) Number of shares/amount of stock disposed


Relinquishing of trusteeship holding 6,000 shares


10) Percentage of issued class


0.01%


11) Class of security


Ordinary shares of 25 pence each


12) Price per share

n/a

13) Date of transaction

Not known


14) Date company informed


28 July 2004


15) Total holding following this notification


16,000 ordinary shares of 25p each (of which 11,000 shares are non-beneficially
owned)


16) Total percentage holding of issued class following this notification

0.03% of issued share capital


If a director has been granted options by the company please complete the
following boxes


17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number



21) Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise


22) Total number of shares or debentures over which options held following this
notification


23) Any additional information


24) Name of contact and telephone number for queries


Rebecca Burtonwood

Fidelity Investments International

01737 836 869


25) Name and signature of authorised company official responsible for making
this notification


Rebecca Burtonwood for and on behalf of Fidelity Investments International


Date of Notification 28 July 2004