Issue of Equity

Fidelity European Values PLC
4 February 2002


Fidelity European Values PLC announces that on 4 February 2002 the Company
allotted 3,313 ordinary 25p shares at a price of 543 pence per share (which
represents a premium in excess of 2% over the latest net asset value). This was
in respect of shares purchased through the Fidelity Share Plan. The new shares
will rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 62,922,090.



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