New Rollover Program Can Help Advisors Build Client Relationships; New Plan Parameters, Investment Options Help Advisors Strengthen Competitive Offering

BOSTON, September 15, 2003 -- Fidelity Investments today announced a series of enhancements to its popular advisor-sold 401(k) platform, including an automated rollover program, extended plan parameters and an expanded range of investment options.

Fidelity's Premium Service Programs are a suite of employer-sponsored plan services offered through financial advisors to small- and mid-sized companies. Launched in 1998, Fidelity's advisor-sold 401(k) programs have grown to more than 1,800 plans and approximately $8.5 billion in total administered assets as of August 31, 2003.

Among the major enhancements, Fidelity introduced an automated rollover program that can help advisors identify participants who are rolling assets out of Fidelity's advisor-sold 401(k) or profit sharing plans because of a job change or retirement. The Fidelity Advisor Rollover Program will deliver an explanatory Fidelity Advisor IRA Rollover Kit, which includes a pre-filled application as well as contact information for the advisor associated with the participant's plan. A weekly e-mail identifying participants who were mailed kits is sent to advisors who are the broker of record on the plan.

"An estimated $172 billion¹ is expected to be transferred from defined contribution plans to Rollover IRAs during this year alone -- a significant new business opportunity for advisors," said Donald Holborn, executive vice president, Fidelity Investments Institutional Services Company, Inc. "With our rollover program, advisors can spend less time prospecting and more time providing investment education to participants at the point of retirement or job termination -- a time when employees are making critical decisions about their financial future."

Expanded Plan Parameters

Fidelity also has expanded the parameters of its advisor-sold Premium and Premium 100 401(k) programs to provide advisors with increased opportunity for new business. The Premium Service Program now allows advisors to offer a fully bundled 401(k) plan to businesses with 25 to 1,500 participants and $2 million or more in plan assets. Previously, Premium was available to businesses with 100 to 1,000 participants. The Premium 100 Service Program now provides a lower-cost plan for businesses with 10 to 150 participants, expanded from 25 to 150.

New Investment Options

Fidelity also has added 18 new mutual fund options to its Premium Service Program, including funds from three fund families new to the program. Of the 18, eight are new Fidelity Advisor FundsSM, including Fidelity Advisor Freedom, Fidelity Advisor International Small Cap and Fidelity Advisor New Insights funds. With the addition of these fund families and funds, Fidelity now offers 125 fund options from 21 fund families. The new Fidelity Advisor Funds are also now available in the Premium 100 Service Program.

"Expanding the plan size of our advisor-sold 401(k) platform recognizes the increasing demand among advisors to attract new business across a greater diversity of plan sizes and designs," said Holborn. "By increasing flexibility, offering more choice and continually delivering world-class service and technology, we are also helping advisors strengthen their competitive offering and more effectively meet the demanding needs of plans sponsors and their employees."

About Fidelity Investments Institutional Services Company

Fidelity Investments Institutional Services Company provides investment management services through investment professionals at financial institutions nationwide, including wirehouses, regional and independent broker/dealers, banks, trust companies and insurance companies. The company offers Fidelity Advisor Funds®, Variable Insurance Product (VIP) Portfolios, systematic investment plans, institutional money market funds and a comprehensive line of retirement products and services. Fidelity Investments Institutional Services Company's total assets under management were $169 billion as of August 31, 2003.

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.

¹ Cerulli Associates, Retirement Industry Update: Trends in 401(k) and IRA Markets, 2002

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For more complete information about the Fidelity Advisor Funds, including charges and expenses, please call or write your financial advisor for a free prospectus. Please read the prospectus carefully before you invest or send money.

Fidelity Advisor Funds is a registered service mark of FMR Corp.

Fidelity Investments Institutional Services Company, Inc.
82 Devonshire Street, Boston, MA 02109.