Issue of Equity

Fidelity Special Values PLC announces that on 27 August 2003 the Company
allotted 8,223 ordinary 25p shares at a price of 300 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 2,219,378 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,477,733.