Fidelity Special Values PLC announces that on 17 July 2003 the Company allotted
14,876 ordinary 25p shares at a price of 279 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 2,401,363 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,295,748.



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