Issue of Equity

Fidelity Special Values PLC
31 January 2002



Fidelity Special Values PLC announces that on 31 January 2002 the Company
allotted 6,584 ordinary 25p shares at a price of 284 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 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 39,468,667.







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