Fidelity Special Values PLC announces that on 1 May 2003 the Company allotted
1,594 ordinary 25p shares at a price of 229.5 pence per share (which represents
a premium in excess of 2% over the latest net asset value) in respect of the
Fidelity Share Plan and the Fidelity ISA. The new shares will rank pari passu
with existing ordinary 25p shares.

A total of 3,364,537 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 44,332,574.



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