Fidelity Special Values PLC announces that on 21 July 2003 the Company allotted
60,690 ordinary 25p shares at a price of 279.5 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 2,330,074 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,367,037.



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