Issue of Equity

Fidelity Special Values PLC
3 January 2002



Fidelity Special Values PLC announces that on 3 January 2002 the Company
issued and allotted a further 816,727 ordinary 25p shares in respect of shares
arising on the exercise of warrants, with effect from 1 January 2002. The
total issued share capital is now 39,275,352.