Gold Level Customers Will Now Pay a Flat $8 For Eligible Online Equity Trades

BOSTON, February 17, 2004 - Fidelity Investments today announced that it has significantly enhanced its pricing for active traders by eliminating its penny per share charge for online equity trades¹. Beginning tomorrow, February 18, Gold Level customers will now pay a flat rate of $8 for online equity orders, regardless of the number of shares.

"The success and acceptance by Fidelity's active trader customers of the reduced commissions and enhanced services we introduced last fall is allowing us to further reinvest in the business by offering one of the lowest commission schedules in the industry - a flat $8 rate for online equity trades," said Jeff Carney, president, Fidelity Personal Investments. "Today's announcement, which reinforces Fidelity's reputation as a leader in the retail brokerage industry, is the first of several enhancements the firm is planning to make in 2004 to benefit this important customer group."

Fidelity's Gold Level commission schedule is available to customers who place at least 120 stock, bond or option trades a year and have $30,000 in combined household assets, or have $1 million in total assets with the firm. Gold Level online commissions and eligibility requirements were reduced in October 2003, giving even more customers access to Fidelity's low pricing. In addition, Fidelity determines commission rates according to a relationship-based pricing model which provides customers with the ability to consolidate assets and trading activity across multiple accounts, offering even more ways to save on trading costs.

Fidelity's Active Trader Services offer sophisticated traders low commissions, enhanced services - including five-second market order executions at the NBBO or better during regular market hours² and a seven-day transfer of assets³ guarantee - and access to Fidelity's Active Trader Services team, along with advanced trading tools and technology through Active Trader ProTM. For more information, visit www.fidelity.com/activetrader.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.7 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.

¹ Effective 2/18/04, pay the base rate of $8 for online stock trades in eligible household accounts. Directed trading orders, stocks trading under $1, extended hours trades pay the base rate up to 1,000 shares plus $.005 per share thereafter. Eligible household accounts are those which qualify for Active Trader Services or Gold Level Commission pricing. Online stock trades for others may start at $29.95, additional fees may apply to limit and stop orders. See a Fidelity commission schedule for complete details. Fidelity reserves the right to terminate an account at any time for abusive trading practices or for any other reason.
² For transactions not executed within five seconds, Fidelity will automatically waive the commission charge on that transaction. Offer limited to market orders between 100 and 500 shares to buy, sell, or buy to cover stocks listed on the S&P 500 Index. Orders must be entered between 9:45 am and 3:59 pm ET on the day when the market is open. Execution speed is calculated from the time Fidelity accepts the order to the time of execution, reported to Fidelity by the executing market center. Eligible orders can be entered on Fidelity.com, Fidelity Active Trader Pro, FAST, wireless devices or through a Fidelity representative. Short sales, extended hours orders, directed trade orders and certain other transactions are excluded. Certain market and systems conditions may impact qualifications for this guarantee. Fidelity reserves the right to restrict or revoke this offer at any time. See www.fidelity.com/activetrader for more details.
³ Offer guarantees that qualified TOA requests of $10,000+ (valued upon receipt by Fidelity) of Automated Customer Account Transfer (ACAT) or DTC-eligible securities held in street name at the ACAT-participating delivering firm will be completed within 7 business days or customer will receive one month's free trades with Fidelity (up to 40 commissionable online stock trades up to 1000 shares, retail value approximately $320). Those indicating their annual household trading activity will be 120+ trades per year are eligible. Guarantee begins upon notification by an Active Trader TOA specialist of receipt of all required paperwork in good order. Accounts must have identical registrations to qualify. Offer is not transferable and trades will expire after 30 days. Fidelity reserves the right to terminate offer at any time. Employees of Fidelity, its affiliates, and members of their immediate families and households, non-U.S. residents, and persons covered by NYSE Rule 350 are ineligible. Call 1-800-544-5115 for complete details.

# # #

Fidelity Brokerage Services, LLC. Member NYSE, SIPC.
100 Summer Street, Boston, MA 02110