Issue of Equity

Fidelity European Values PLC
4 September 2001

Fidelity European Values PLC announces that on 4 September 2001 the Company
allotted 5,564 ordinary 25p shares at a price of 540 pence per share (which
represents a premium in excess of 2% over the latest diluted net asset value).
This was in respect of shares purchased through the Fidelity Share Plan and
Fidelity ISA. The new shares will rank pari passu with existing ordinary 25p
shares.

The total number of ordinary 25p shares now in issue is 62,837,158.