Director/PDMR Shareholding

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS               

All relevant boxes should be completed in block capital letters.

1.	Name of the issuer Fidelity Special Values PLC	2.	State whether the notification relates to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act 2006. (ii)
3.	Name of person discharging managerial responsibilities/director Lynn Christine Ruddick	4.	State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person N/A
5.	Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest 1 Person referred to in 3	6.	Description of shares (including class), debentures or derivatives or financial instruments relating to shares Ordinary shares of 5p each
7.	Name of registered shareholder(s) and, if more than one, the number of shares held by each of them FIL Nominee (Shareholdings) Limited GENPEP account 15,640 shares (ISA) (+80 shares) Bank of New York Nominees Limited 27,083 (Share Plan) (+140 shares)	8.	State the nature of the transaction Dividend re-investment through ISA Dividend re-investment in Share Plan
9.	Number of shares, debentures or financial instruments relating to shares acquired 80 ordinary shares (ISA) 140 (Share Plan)	10.	Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)  less than 0.01%
11.	Number of shares, debentures or financial instruments relating to shares disposed n/a	12.	Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage) n/a
13.	Price per share or value of transaction 80 ordinary shares at £1.9339 per share (ISA) 140 ordinary shares at £1.9275 per share (Share Plan)	14.	Date and place of transaction 25 May 2016, UK
15.	Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 42,943 ordinary shares (less than 0.01%)	16.	Date issuer informed of transaction 25 May 2016

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17.	Date of grant	18.	Period during which or date on which exercisable
19.	Total amount paid (if any) for grant of the option	20.	Description of shares or debentures involved (class and number)
21.	Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise	22.	Total number of shares or debentures over which options held following notification
23.	Any additional information	24.	Name of contact and telephone number for queries Bonita Guntrip For and on behalf of FIL Investments International Company Secretary 01737 837320

Name of authorised official of issuer responsible for making notification Bonita Guntrip for FIL Investments  International, Company Secretary                                                Date of notification           31 May 2016

Notes:  This form is intended for use by an issuer to make a RIS notification required by DTR 3.3.

(1)   An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)   An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 23 and 24.

(3)   An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)   An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.