Issue of Equity

Fidelity Special Values PLC
18 January 2002



Fidelity Special Values PLC announces that on 18 January 2002 the Company
allotted 354 ordinary 25p shares at a price of 282 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. The new
shares will rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 39,365,707.