Directorate Change

The Board of Fidelity Special Values PLC announces that Mr Simon Haslam has
retired as a Director of the Company with effect from 9 December 2004.

The Board of Fidelity Special Values PLC is pleased to announce that Ms Nicky
McCabe has been appointed as a non-executive Director of the Company with
effect from 9 December 2004.

Ms McCabe is Chief Operating Officer, Investment Management, of Fidelity and
was a Director of Fidelity Investment Services Limited and Fidelity Investments
International until 2001.

It is confirmed that there is no information to be disclosed under paragraph
6.F.2 (b) to (g).