Issue of Equity

Fidelity Special Values PLC announces that on 27 June 2002 the Company allotted
49,931 ordinary 25p shares at a price of 292 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 ISA. The new shares will rank pari
passu with existing ordinary 25p shares. The total number of ordinary 25p
shares now in issue is 40,980,282.