Issue of Equity

Fidelity Special Values PLC announces that on 20 March 2003 the Company
allotted 76,213 ordinary 25p shares at a price of 215.5 pence per share (which
represents a premium in excess of 2% over the latest net asset value) in
respect of the Fidelity Share Plan and ISA. The new shares will rank pari passu
with existing ordinary 25p shares.

A total of 2,803,023 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 43,807,928.