New e-Learning Features Provide Customized Information
When and Where Participants Need it

MARLBOROUGH, Mass., July 21, 2003 - Fidelity Investments today announced a series of enhancements to its popular e-Learning program, introducing "just-in- time," targeted educational content delivered to plan participants via the Fidelity NetBenefits^SM portal, and new, regularly scheduled Universal Web Workshops^SM.

Fidelity e-Learning is a critical component of Fidelity's first | PERSON communication and education program, which provides a regular stream of personalized, actionable information to help participants improve planning, reach their retirement savings goals, and manage their overall financial health.

Among the major enhancements to its self-paced e-Learning modules, Fidelity has added a contextual learning feature that allows participants to access educational content based on where they are in NetBenefits. For example, if a participant is reviewing the balance of his or her account by asset class, e-Learning modules containing educational content on asset classes and how asset allocation works are available directly on that account screen. The participant can then apply that information and take any necessary action to rebalance their portfolio.

Another new feature, adaptive learning, enables NetBenefits to deliver educational content based on a participant's profile. Upon the participant's completion of a few investment knowledge-related questions, the e-Learning catalog page adapts to the information submitted by the participant and suggests appropriate courses for the participant's investment experience.

"Retirement communication and education remains a top priority among plan sponsors and online workshops continue to increase in popularity among participants," said Kathryn Hopkins, executive vice president, Fidelity Institutional Retirement Services Company, the nation's largest provider of 401(k) plans¹ . "We have seen usage triple over the past couple of years and the enhancements we have made to our online workshops are helping companies provide their workers with access to information when and where they need it."

Universal Web Workshop Availability Expanded

In addition to the e-Learning enhancements, Fidelity has also expanded availability of several of its Web Workshops to all participants several times a week at regularly scheduled times. These Universal Web Workshops^SM are available at pre-set times of the day and evening to be convenient for participants from many different companies, time zones, and locations. The workshops are intended for new hires or newly eligible employees, as well as more investment savvy employees looking for more practical tools to track and manage their retirement portfolios. Workshop topics include how to determine retirement savings needs, how to create an investment strategy, and how to manage your retirement savings during a corporate action, respectively.

e-Learning Workshops Effectiveness, Satisfaction High Among Participants

Fidelity's research has shown that e-Learning is a particularly effective tool in helping participants learn about investing and retirement planning.

Employers offering blended learning opportunities - that is, a combination of traditional classroom learning with technology-enabled options - experience significantly higher plan participation rates and their participants demonstrate improved diversification and greater engagement in managing their retirement savings accounts.

Fidelity reports that newly eligible participants taking advantage of e-Learning options are two and a half times more likely to enroll in their company retirement plan upon completion of the workshop than attendees at face-to-face meetings, and they defer on average 50% more than attendees of face-to-face meetings. Similarly, the percentage of participants increasing their deferrals after an e- Learning workshop is more than double that of attendees at face-to-face meetings. Participants in e-Learning workshops showed a dramatic increase in their NetBenefits usage to manage their retirement savings accounts.

Satisfaction with Fidelity e-Learning workshops is also high among plan participants. Fidelity reports that 95 percent of the participants who used the e- Learning workshops last year rated their experience as excellent or good. Additionally, 40 percent of participants took advantage of the program's online flexibility by accessing the e-Learning workshops from their home computers.

"We have seen our e-Learning workshops grow in popularity, satisfaction and usage over the past year, largely due to the ease of use, strong content and integration with NetBenefits," said Hopkins. "Participants are able to apply what they learn on such topics as diversification, asset allocation and exchanges to the ongoing management of their account. So far this year, over 26,000 participants have used the service and we expect the new enhancements to drive usage to over 125,000 by the end of 2003."

About Fidelity e-Learning and Web Workshops

Participants can access e-Learning workshops anytime. This flexibility also allows participants to involve their spouses or other family members in their retirement planning. The workshops are easy to navigate and can track a participant's progress - allowing employees to complete workshops in several sittings and in any order they prefer.

There are currently five workshops in the e-Learning series, which include the "Savings Plan Workshop," "Investment Strategy Workshop, " "Mutual Fund Investing Workshop," "Rebalancing Your Portfolio," and "Getting Started in Your Retirement Plan." A new e-learning workshop helping employees in transition - either undergoing a job change or through a corporate action - make important decisions regarding their retirement savings is expected to be rolled-out later this year.

Fidelity Web Workshops are live Internet-based workshops led by Fidelity's registered educational consultants. They use online presentations to bring the experience of a traditional employee educational meeting right to the desktop. Employees can interact with the presenter via text chat, online polling and surveys, or the telephone.

Through its Workplace Services offering, Fidelity Investments provides human resources administration and employee benefits solutions to more than 15 million participants in more than 11,500 retirement, pension, health and welfare, payroll and stock plans as of May 31, 2003.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.5 trillion, including managed assets of $880.4 billion as of June 30, 2003. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

¹ As of March 31, 2003, total administered assets were $373.9 billion.

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Fidelity Employer Services Company,
a division of Fidelity Investments Institutional Services Company, Inc.,
82 Devonshire Street, Boston, MA 02109.