Loan Facility

Fidelity Special Values PLC
28 August 2001

Fidelity Special Values PLC announces that on 28 August 2001 the Company
entered into a forward start interest rate swap agreement for a notional
principal amount of £10 million, fixed for three years. The start date of the
fixed interest rate will be 31 January 2002 (maturity date 26 January 2005).
The notional principal amount of £10 million will apply to the £6 million
drawn down under the Company's existing revolving credit facility agreement
with The Chase Manhattan Bank and further borrowings of £4 million that the
Company intends to draw down in the very near future. From 31 January 2002 the
effective rate of borrowings will be approximately 6.42%.

As at 28 August 2001, the Company has total borrowings of £16 million and the
Company's gearing is approximately 14.38%.