Range of Trustee Services Can Help Advisors Meet Sophisticated Needs of Affluent Clients; Program Allows Advisors to Retain Investment Management Control While Delegating Administrative Responsibilities

BOSTON, January 13, 2004 -- Fidelity Investments today announced it has expanded its WealthAccess^SM platform to include a trustee services program designed to help registered investment advisors strengthen their wealth management capabilities and offer affluent clients a range of trust services.

Comprised of three services - Agent for Trustee Services, Trustee Reporting Services and Administrative Trustee Services - Fidelity Trustee Services offers independent advisors a flexible approach to managing the sophisticated trust needs of their clients. Offered with Fidelity Personal Trust Company, FSB (the Trust Company)¹, each service allows advisors to oversee client contact and coordinate activities with the Trust Company, while retaining investment management control.

"As the wealthy population continues to age and increasingly seeks help in developing estate and wealth transfer strategies, advisors who offer a range of trustee services may be well-positioned to strengthen existing client relationships and even extend them into future generations," said Jay Lanigan, president, Fidelity Registered Investment Advisor Group. "Fidelity Trustee Services lets advisors delegate the administrative aspects of a trust, allowing them to focus on what they do best - investment management and client service."

Fidelity Trustee Services offers independent advisors access to a range of services, including:

•		Agent for Trustee Services. Through this service, a trustee2 can hire the Trust Company to act on their behalf and perform certain trust administration activities under the guidelines of the trust document. The trustee retains fiduciary responsibility, while the advisor retains investment management responsibility.
•		Trustee Reporting Services3. This service allows advisors to provide their clients with enhanced accounting and reporting - principal and income separation, tax lot accounting, marketable and non-marketable securities - for their investment portfolios held at Fidelity.
•		Administrative Trustee Services. Introduced in 2001, this service allows an advisor's client to appoint the Trust Company as corporate trustee. The Trust Company assumes administrative responsibilities, including custody, accounting, tax filing and reporting, while the advisor maintains investment management responsibility.

Fidelity Trustee Services is integrated with Fidelity's brokerage platform, which may help improve operational efficiencies by consolidating family relationships - trust and non-trust - with Fidelity, while increasing the breadth of investment products available to trusts.

About Fidelity WealthAccess^SM

Fidelity WealthAccess^SM is a comprehensive platform of specialized high-net-worth investment products and services designed exclusively to help Registered Investment Advisors expand their wealth management capabilities and meet the needs of their affluent clients.

About Fidelity Registered Investment Advisor Group

Fidelity is the second largest provider of custody and brokerage services to the registered investment advisor marketplace, with $94.7 billion in assets on behalf of more than 2,000 advisors as of November 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 $1.7 trillion, including managed assets of $954.3 billion as of November 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 Fidelity Personal Trust Company, FSB (FPT) is a federal savings bank, a registered investment advisor, and a Fidelity Investments company. Non-deposit investment products offered through FPT and other affiliates of Fidelity Investments are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency, are not obligations of any bank, and are subject to risk, including possible loss of principal.
² Under this service an advisor, client or family member can act as trustee.
³ Fiduciary Reporting Services (FRS) are provided by National Financial Services LLC and Fidelity Brokerage Services LLC. These firms also provide custody, accounting, and reporting, but do not provide fiduciary services to trustees or trust accounts. Under FRS, Fidelity will not review governing trust documents and does not provide advice to trustees. If a trustee desires to delegate or outsource any non-discretionary administrative functions of a trustee, Fidelity provides Agent for Trustee Services offered through Fidelity Personal Trust Company, FSB.

# # #

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

Estate planning and tax information provided by Fidelity is general in nature and should not be considered legal or tax advice. Fidelity does not provide legal or tax advice. Clients should consult with an attorney or tax professional regarding any specific legal or tax situation.