Issue of Equity

Fidelity Special Values PLC
27 June 2001

Fidelity Special Values PLC announces that on 27 June 2001 the Company
allotted 13,146 ordinary 25p shares at a price of 293.50 pence per share
(which represents a premium in excess of 2% over the latest diluted 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 36,729,539.