Loan Facility

Fidelity Special Values PLC
29 August 2001

Fidelity Special Values PLC announces that the Company has entered into an
amendment to its existing £6 million revolving credit facility agreement with
The Chase Manhattan Bank to increase the facility to £10 million. On 29 August
2001, the Company drew down a further £4 million at a rate of 5.65%, bringing
the total borrowings under this agreement to £10 million. The whole of this
amount will be subject to the forward start interest rate swap agreement
entered into yesterday, 28 August 2001. From 31 January 2002 the effective
rate of borrowings under this facility will be approximately 6.42%, fixed for
three years (maturity date 26 January 2005).

The Company has a further £10 million fixed rate loan with The Chase Manhattan
Bank at an effective rate of 7.82% which is repayable on 26 January 2005.
Therefore the Company now has total borrowings of £20 million and the
Company's gearing is approximately 18.1%