Fidelity Special Values PLC announces that on 18 July 2003 the Company allotted
10,599 ordinary 25p shares at a price of 280 pence per share (which represents
a premium in excess of 2% over the latest net asset value) in respect of the
Fidelity ISA. The new shares will rank pari passu with existing ordinary 25p
shares.

A total of 2,390,764 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,306,347.



END