Issue of Equity

Fidelity Special Values PLC
3 August 2001



Fidelity Special Values PLC announces that on 3 August 2001 the Company
allotted 12,319 ordinary 25p shares at a price of 283 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
Fidelity ISA. The new shares will rank pari passu with existing ordinary 25p
shares.

A total of 298 shares now remain available for issue under the existing
authority. An EGM will be convened in the near future with a view to renewing
the authority to issue shares.

The total number of ordinary 25p shares now in issue is 37,572,095.