BOSTON, February 10, 2004 - Fidelity Investments today announced it has been selected by Inova Health System to provide benefit administration services for its pension, health and welfare benefit programs and defined contribution plan for more than 13,000 employees in Northern Virgina. Inova is the first not-for-profit organization to use Fidelity as a single benefits outsourcing vendor.

"Corporate clients have had tremendous success with total benefits outsourcing during the last several years, so it is exciting to see not-for-profit organizations follow in the direction of working with a single vendor to service multiple benefit programs," said John W. "Jack" Callahan, president, Fidelity Investments Tax-Exempt Services Company. "The agreement with Inova demonstrates the significant value that Fidelity's workplace services delivers to help not-for-profit organizations achieve expanded benefits capabilities, cost savings and a greater focus on their core competencies."

"Fidelity's extensive technology platform and operational experience will provide our employees with increased convenience and service," says Ellen Menard, senior vice president, human resources and organization development, Inova Health System. "We'll now have a single point of contact to conduct our benefit-related business, simplifying the customer experience for all our employees and retirees."

As part of the agreement, Fidelity will provide integrated administration services for Inova's benefit plans:

•		Health & Welfare Plans - Fidelity will manage and provide administration services for Inova's health and welfare plans for 13,000 active employees, retirees, and their dependents. Serving as the single interface between Inova and its vendors, Fidelity will deliver online tools and administration resources, such as full-service enrollment and life-event processing for medical, dental and vision programs.
•		Defined Benefit Plans - Fidelity will provide administration services for Inova's defined benefit pension plans, covering over 16,000 active and retired participants. Defined benefit administration services include data management, event processing, benefit calculations, retirement modeling, retiree check disbursements and post-retirement administration services.
•		Defined Contribution Plans - Fidelity will provide administration services for Inova's defined contribution plans, covering 10,000 active participants.

About Fidelity Employer Services Company

Fidelity Employer Services Company provides human resources administration and employee benefits solutions to more than 16.7 million participants in nearly 12,000 retirement, pension, health and welfare, payroll and stock plans as of December 31, 2003.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.8 trillion, including managed assets of $988.3 billion as of December 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.

About Inova Health System

Inova Health System is a not-for-profit health care system based in Northern Virginia that consists of hospitals and other health services including emergency and urgent care centers, home care, nursing homes, mental health and blood donor services, and wellness classes. Governed by a voluntary board of community members, Inova's mission is to provide quality care and improve the health of the diverse communities we serve.

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Fidelity Investments and Inova Health System are not affiliated.

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