Issue of Equity

Fidelity Special Values PLC announces that on 28 November 2003 the Company
allotted 11,945 ordinary 25p shares at a price of 311 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 1,820,247 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,876,864.