Issue of Equity

Fidelity Special Values PLC announces that on 17 June 2003 the Company allotted
205,884 ordinary 25p shares at a price of 270 pence per share (which represents
a premium in excess of 2% over the latest net asset value). Shares purchased
through the Fidelity ISA totalled 5,884 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 2,593,576 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,103,535.