Issue of Equity

Fidelity Special Values PLC
19 October 2001


Fidelity Special Values PLC announces that on 19 October 2001 the Company
allotted 3,283 ordinary 25p shares at a price of 242 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 ISA. The new shares
will rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 37,894,121.