Issue of Equity

Fidelity Special Values PLC announces that on 30 March 2005 the Company
allotted 19,911 ordinary 25p shares at a price of 412 pence per share (which
represents a premium in excess of 2% over the latest net asset value) in
respect of the Fidelity ISA and the Fidelity Share Plan. The new shares will
rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 65,356,053.

The total number of shares now available for issue under the Company's
authority is 5,174,373.

Contact for queries:

Name: Rebecca Burtonwood, Fidelity Investments International

Telephone: [phone]