Issue of Equity

Fidelity Special Values PLC
18 December 2001



Fidelity Special Values PLC announces that on 18 December 2001 the Company
allotted 7,876 ordinary 25p shares at a price of 277 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 38,222,603.