Blocklisting - Interim Review

    SCHEDULE 5

                       BLOCK LISTING SIX MONTHLY RETURN                        

To: Listing Applications

UK Listing Authority

Financial Services Authority

25, The North Colonnade

Canary Wharf

London, E14 5HS

Please ensure the entries on this return are type

1. Name of company: Fidelity Special Values PLC                                

2. Name of scheme: Exercise of Warrants                                        

3. Period of return: From 9 July 2003 - 9 January 2004                         

4.  Number and class of share(s) (amount  5,649,360 ordinary 25p shares        
    of stock/debt security) not issued                                         
    under scheme                                                               

5.  Number of shares issued/allotted      3,309,360 ordinary 25p shares        
    under scheme during period:                                                

6.  Balance under scheme not yet issued/  2,340,000 ordinary 25p shares        
    allotted at end of period                                                  
                                          These warrants are being cancelled   
                                          resulting in nil ordinary shares     

7.  Number and class of share(s) (amount  7,267,704 ordinary 25p shares        
    of stock/debt securities) originally  originally listed on 9 January 1998  
    listed and the date of admission;                                          

Please confirm total number of shares in issue at the end of the period in     
order for us to update our records                                             
                                                                               
61,552,324                                                                     

Contact for queries: Fidelity           Address:                               
Investments International                                                      

Name: Rebecca Burtonwood                Telephone: [phone]                

Person making return Name: Rebecca Burtonwood

Position: For and on behalf of Fidelity Investments International - Company
Secretary

Signature:******************



END