Premium Service 401(k) Program Recordkept Assets Increase 38 Percent

BOSTON, February 26, 2004 -- Fidelity Investments today announced it has expanded the number of investment options available in its popular Premium Service 401(k) Program, a suite of employer-sponsored retirement plans and services offered through third-party financial advisors to small- and mid-sized companies. The new funds provide a broader selection of fund choices for advisors to offer their plan sponsor clients.

Fidelity added 19 mutual fund options to its Premium and Premium 100 401(k) programs, including six new Fidelity Advisor Funds^® -- Fidelity Advisor Value Fund¹ , Fidelity Advisor Strategic Dividend & Income Fund ² and Fidelity Advisor Freedom 2005^SM, 2015, 2025 and 2035³ . Additionally, nine of the funds are from four fund families new to the program and four are from existing outside fund families. Advisors can now offer plan sponsor clients access to 140 funds -- 65 Fidelity Advisor Funds and 75 outside funds -- from 25 fund families.

Fidelity also reported that total recordkept assets in its advisor-sold 401(k) plans grew 38 percent in 2003, from $6.8 billion to $9.4 billion. Fidelity recordkeeps more than 1,800 plans with more than 300,000 participants in its Premium Service 401(k) Program, which launched in 1998.

"Selecting, implementing and administering a 401(k) plan can be complex for a plan sponsor, especially when it comes to building and maintaining an effective investment menu to help fulfill their employees' retirement goals and their company'|s plan objectives," said Donald Holborn, executive vice president, Fidelity Investments Institutional Services Company. "Advisors can fill a vital role in helping small and medium-sized companies understand their options - including their investment choices - and design a plan that meets their unique needs."

Fidelity also has expanded the outside fund options in the investment menu of its Premium 100 product, which is designed for small companies with between 25 and 150 employeesⁱ . Financial advisors can help plan sponsors choose from three distinct investment menus, one of which now includes the full line-up of 75 outside funds. In the past, the menu allowed selection from eight outside funds.

"By continuing to offer more choice, including a full spectrum of professionally managed investment options, and delivering world class service and technology, Fidelity is helping financial advisors strengthen and fine-tune their competitive offering," Holborn added.

¹Value stocks tend to be inexpensive relative to their earnings or assets compared to other types of stocks. However, value stocks can continue to be inexpensive for long periods of time and may not ever realize their full value.
² Stock prices fluctuate in response to the activities of individual companies and general market conditions.
³ Performance of the Advisor Freedom Funds depends on that of their underlying Fidelity funds. These funds are subject to the volatility of the financial markets in the U.S. and abroad and may be subject to the additional risks associated with investing in high yield, small-cap, and foreign securities.

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 $192.4 billion as of January 31, 2004.

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 $1,004.7 billion as of January 31, 2004. 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.

ⁱPlans must have more than $500,000 in total assets. Setup cost is $500 with a 25 basis point asset-based fee for assets held in non-Fidelity funds.

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Please consider the fund's investment objectives, risks, charges and expenses before investing. For this and other information on any fund available through Fidelity, call or write to Fidelity or visit advisor.fidelity.com for a free Advisor Fund prospectus. Read it carefully before you invest or send money.

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