Issue of Equity

Fidelity Special Values PLC announces that on 22 October 2002 the Company
allotted 262,836 ordinary 25p shares at a price of 224 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 totaled 12836
and shares issued to Apollo Nominees Limited totaled 250,000. The new shares
will rank pari passu with existing ordinary 25p shares. A total of 3,915,650
shares now remain available for issue under the existing authority. The total
number of ordinary 25p shares now in issue is 42,544,014.