Loan agreement

Fidelity Special Values PLC
30 July 2001

Fidelity Special Values PLC announces that on 30 July 2001 it has renewed the
£6 million revolving credit facility agreement with The Chase Manhattan Bank
for a period of six months at an interest rate of 5.9704% per annum.

As at 30 July 2001, the Company has total borrowings of £16 million and the
Company's gearing is approximately 14.8%.