Issue of Equity

Fidelity Special Values PLC announces that on 27 November 2003 the Company
allotted 14,442 ordinary 25p shares at a price of 309 pence per share (which
represents a premium in excess of 2% over the latest net asset value) in
respect of the Fidelity ISA. The new shares will rank pari passu with existing
ordinary 25p shares.

A total of 1,832,192 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,864,919.