Fidelity Special Values PLC announces that on 31 October 2003 the Company
allotted 6,815 ordinary 25p shares at a price of 311 pence per share (which
represents a premium in excess of 2% over the latest net asset value) in
respect of the Fidelity Share Plan. The new shares will rank pari passu with
existing ordinary 25p shares.

A total of 1,990,148 shares now remain available for issue under the existing
authority.

The total number of ordinary 25p shares now in issue is 45,706,963.



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