Issue of Equity

Fidelity Special Values PLC announces that on 4 June 2003 the Company allotted
14,402 ordinary 25p shares at a price of 263 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 the Fidelity ISA. The new shares will rank pari passu
with existing ordinary 25p shares.

A total of 2,833,246 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 44,863,865.