Issue of Equity

Fidelity Special Values PLC announces that on 9 April 2003 the Company allotted
256,479 ordinary 25p shares at a price of 212 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 Fidelity ISA totalled 6,479 and shares
issued to Apollo Nominees Limited totalled 250,000. The new shares will rank
pari passu with existing ordinary 25p shares.

A total of 2,327,754 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 44,283,197