Fixed Rate Loan

Fidelity Special Values PLC
1 August 2000


The Board of Fidelity Special Values PLC announces that it has drawn down for
value on 1 August a fixed rate loan of £3.5million at an interest rate of
7.095% per annum repayable on 29 January 2001.  This brings total gearing to
approximately 18%.

Enquiries: Barbara Powley - Fidelity Investments International - 01737 836883