Issue of Equity

Fidelity Special Values PLC announces that on 30 July 2003 the Company allotted
8,527 ordinary 25p shares at a price of 285 pence per share (which represents a
premium in excess of 2% over the latest net asset value) in respect of the
Fidelity ISA. The new shares will rank pari passu with existing ordinary 25p
shares.

A total of 2,283,041 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,414,070.