Nearly 250 RIA Firms Joined Fidelity;
Assets Increased 21% to More Than $73 Billion

BOSTON, August 25, 2003 -- Fidelity Registered Investment Advisor Group today reported that it saw significant growth in its business during the first six months of the year. Nearly 250 RIA firms established new custodial relationships with Fidelity, an increase of 15 percent since January 1, 2003, and 32 percent year-over-year. As of June 30, 2003, Fidelity custodied assets for more than 1,800 advisory firms.

Fidelity also reported that RIA assets increased to more than $73 billion, a 20 percent increase over the same period and 21 percent year-over-year. Net new asset flows of more than $7 billion contributed to the growth.

"In an increasingly competitive and demanding marketplace, advisors are looking for a provider who will work with them to understand their unique business needs and challenges," said Jay Lanigan, president, Fidelity Registered Investment Advisor Group. "We work consultatively with advisors to offer them the technology and practice management resources they need to strengthen their brand identity, take advantage of market opportunities, and grow and manage their business on their own terms."

"Given the volatility of the markets over the past few years, the demand for professional advice has continued to grow. And, as demand has grown, so too has the competitive environment," said Don Beasley, president, Personal Mutual Fund Management. "To succeed, you need to build solid long-term relationships with clients as well as look for ways to differentiate yourself and attract new business. Fidelity's understanding and responsiveness to our business needs has played and will continue to play an important role in our success. They respect our autonomy and have repeatedly demonstrated their commitment to helping us effectively build our business."

Fidelity continued to make significant investments in its RIA platform on behalf of its clients. Some of the investments during the first half of 2003 included:

•		Elevated Business Structure -- Earlier this year, Fidelity increased its commitment to advisors by restructuring its registered investment advisor business as a stand-alone company on the same level as Fidelity's retail brokerage business.
•		Expanded Relationship Management -- Fidelity added 14 new associates to its sales and relationship management team. The expanded team will allow Fidelity to further enhance the direct support of its clients.
•		Separate Account NetworkSM -- Launched in April, advisors have invested more than $570 million in approximately 380 accounts through Fidelity's Separate Account Network, an open-architecture separate account program.
•		PracticeAdvantageSM -- Fidelity continued to expand its practice management platform for advisors. Eleven business alliances were added bringing the network to more than 50. Fidelity also introduced BestPractices, a series of educational conferences and Wealth & Advice, a Fidelity-commissioned study that provided insights into the high-net-worth/advisor relationship.
•		Fidelity AdvisorAccessSM -- Since its introduction, the referral program's 130 participating advisors have closed more than $1.3 billion in assets with an average account size of over $1 million.

About Fidelity Registered Investment Advisor Group

Fidelity is the second largest provider of custody and brokerage services to the registered investment advisor marketplace, with over $73 billion in assets on behalf of more than 1,800 advisors as of June 30, 2003. Fidelity provides access to a flexible, open technology environment, extensive practice management resources, and wealth management investments and services--all backed by the long-term commitment of a private company. Dedicated relationship professionals work consultatively to help advisors choose the products and services that are in the best interests of their clients and make the most sense for their business. For more information about Fidelity's services for advisors, please visit http://ria.fidelity.com.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.6 trillion, including managed assets of $889.9 billion as of July 31, 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.

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Personal Mutual Fund Management is an independent company and is not affiliated with Fidelity Investments.

Personal Mutual Fund Management is a customer of Fidelity Investments Registered Advisor Group. Its business needs and results may not reflect the experience of other Fidelity customers.

Clearing, custody or other brokerage services may be provided by National Financial Services LLC, or Fidelity Brokerage Services LLC, Members NYSE, SIPC

Fidelity Investments Institutional Brokerage Group
82 Devonshire Street, Boston, MA 02109