Issue of Equity

Fidelity Special Values PLC
25 June 2001

Fidelity Special Values PLC announces that on 25 June 2001 the Company
allotted 21,765 ordinary 25p shares at a price of 295 pence per share (which
represents a premium in excess of 2% over the latest diluted net asset value).
This was in respect of shares purchased through the Fidelity Share Plan and
the Fidelity ISA. The new shares will rank pari passu with existing ordinary
25p shares. A block listing application for an additional 500,000 shares has
been made in respect of the shares for the Fidelity ISA and this is expected
to become effective from 27 June 2001.

The total number of ordinary 25p shares now in issue is 36,700,414.