Director Shareholding

Fidelity Special Values PLC
21 December 2001

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


        1) Name of company

        Fidelity Special Values PLC

        2) Name of director

        Douglas Kinloch Anderson

        3) Please state whether notification indicates that it is in respect
        of
        holding of the shareholder named in 2 above or in respect of a
        non-beneficial interest or in the case of an individual holder if it
        is a holding of that person's spouse or children under the age of 18
        or in respect of a non-beneficial interest

        Individual holder

        4) Name of the registered holder(s) and, if more than one holder, the
        number of shares held by each of them (if notified)

        Fidelity Nominee (Shareholdings) Limited GENPEP Acct (for Douglas
        Kinloch Anderson)5,969

            Douglas Kinloch Anderson 1,000

            IRG Trustees Limited FSP Account(for Mrs Deirdre Anne Kinloch
            Anderson) 7,007

            Mrs Deirdre Anne Kinloch Anderson 2,500

        5) Please state whether notification relates to a person(s) connected
        with the Director named in 2 above and identify the connected person
        (s)

        Douglas Kinloch Anderson

        6) Please state the nature of the transaction. For PEP transactions
        please indicate whether general/single co PEP and if discretionary/non
        discretionary

        General PEP Account (dividend reinvestment)

        7) Number of shares/amount of
        stock acquired

        52

        8) Percentage of issued class

        0.00%

        9) Number of shares/amount
        of stock disposed

        Nil

        10) Percentage of issued class

        N/A

        11) Class of security

        Ordinary 25p shares

        12) Price per share

        277p

        13) Date of transaction

        20 December 2001

        14) Date company informed

        21 December 2001

        15) Total holding following this notification

        16,476

        16) Total percentage holding of issued class following this
        notification

        0.04%

        If a director has been granted options by the company please complete
        the following boxes

        17) Date of grant



        18) Period during which or date on which exercisable



        19) Total amount paid (if any) for grant of the option



        20) Description of shares or debentures involved: class, number



        21) Exercise price (if fixed at time of grant) or indication that
        price
        is to be fixed at time of exercise



        22) Total number of shares or debentures over which options held
        following this notification



        23) Any additional information



        24) Name of contact and telephone number for queries



        25) Name and signature of authorised company official responsible for
        making this notification

        Date of Notification..................................