Issue of Equity

Fidelity Special Values PLC announces that on 27 November 2002 the Company
allotted 241,436 ordinary 25p shares at a price of 230 pence per share (which
represents a premium in excess of 2% over the latest net asset value). Shares
purchased through the Fidelity Share Plan and the Fidelity ISA totalled 41,436
and shares issued to Apollo Nominees Limited totalled 200,000. The new shares
will rank pari passu with existing ordinary 25p shares.

A total of 3,179,232 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 43,280,432.