Issue of Equity

Fidelity Special Values PLC announces that on 7 January 2004 the Company
received notice from Capita IRG Trustees Limited that they wished to exercise
the 755,225 outstanding warrants. Therefore the Company issued and allotted a
further 755,225 ordinary 25p shares in respect of shares arising on the
exercise of warrants. The total issued share capital is now 61,552,324.

The shares arsing from the exercise of the warrants were sold in the market
today at a price of 316 pence per share.

The trustee will distribute pro rata the proceeds less the subscription costs
of £1 per share and such other costs and expenses to the persons entitled
thereto, provided that entitlements of less than £3.00 shall be retained for
the benefit of the Company.

 

 


  ND