Fidelity Special Values PLC announces that on 11 July 2003 the Company allotted
3,311 ordinary 25p shares at a price of 276 pence per share (which represents a
premium in excess of 2% over the latest net asset value) in respect of the ISA.
The new shares will rank pari passu with existing ordinary 25p shares.

A total of 2,478,684 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,218,427.



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