Issue of Equity

Fidelity Special Values PLC announces that on 1 October 2004 the Company
allotted 100,050 ordinary 25p shares at a price of 375 pence per share (which
represents a premium in excess of 2% over the latest net asset value). Shares
purchased through the Fidelity ISA totalled 50 and shares issued to Apollo
Nominees Limited totalled 100,000. The new shares will rank pari passu with
existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 63,540,530.