Issue of Equity

Fidelity Special Values PLC announces that on 21 May 2003 the Company allotted 2,447 ordinary 25p shares at a price of 247 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 the Fidelity ISA. The new shares will rank pari passu with existing ordinary 25p shares. A total of 3,362,090 shares now remain available for issue under the existing authority. The total number of ordinary 25p shares now in issue is 44,335,021. END
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