Issue of Equity

Fidelity European Values PLC
28 February 2002



Fidelity European Values PLC announces that on 28 February 2002 the Company
allotted 3,834 ordinary 25p shares at a price of 561 pence per share (which
represents a premium in excess of 2% over the latest net asset value). This was
in respect of shares purchased through the Fidelity Share Plan and the Fidelity
ISA. The new shares will rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 62,977,467.

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