Issue of Equity

Fidelity Special Values PLC announces that on 23 August 2002 the Company
allotted 107,175 ordinary 25p shares at a price of 255 pence per share (which
represents a premium in excess of 2% over the latest net asset value). Shares
purchased through the Fidelity Share Plan and the Fidelity ISA totalled 7,175,
and shares issued to Cazenove & Co Limited totalled 100,000. The new shares
will rank pari passu with existing ordinary 25p shares. A total of 922,979
shares now remain available for issue under the existing authority. The total
number of ordinary 25p shares now in issue is 41,878,616