EGM Statement

Fidelity Special Values PLC

At the Company's Extraordinary General Meeting held on 11 December 2003, all
resolutions were duly passed.

The special resolutions passed were as follows:

  * The Directors' authority to allot a limited number of currently unissued
    ordinary shares for cash, without first offering such shares to existing
    ordinary shareholders pro rata to their existing holdings, has been
    renewed.
   
  * The Company's authority to purchase up to 14.99% of its own shares in issue
    as at 31 December 2003 for cancellation has been renewed.
   
  * Adoption of revised Articles of Association.