Issue of Equity

Fidelity Special Values PLC
1 June 2001


Fidelity Special Values PLC announces that on 1 June 2001 the Company allotted
4,061 ordinary 25p shares at a price of 295 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 ISA. The new shares will
rank pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 36,394,061.