Online Enhancements Provide Ease-of-Use and Improve Client Experience

BOSTON, MA, May 6, 2004 - Fidelity's Stock Plan Services group today announced it has significantly enhanced its stock appreciation rights and phantom stock plan capabilities available to plan sponsors and their employees based in the U.S. and overseas.

Fidelity now provides full-service, online stock appreciation rights and phantom stock administrative, record keeping and participant services. New features include:

•		More robust viewing, modeling and automated exercise capabilities that improve the online participant experience,
•		Customized web screens, including the ability to handle participant proceeds as cash or as stock-settled shares, providing flexibility based on the particular plan's design, and
•		Integrated online reporting, allowing companies to easily track and analyze plan data via one easy-to-access location.

"Equity compensation is changing, and Fidelity Stock Plan Services is moving quickly to support companies in this area. Given recent industry trends, we believe that many companies will increasingly utilize alternatives to stock options, such as stock appreciation rights and phantom stock arrangements," said Sally Geaney, executive vice president, Fidelity Personal Investments. "With today's announcement, we now can offer plan sponsors a full range of integrated stock plan solutions to meet their evolving business needs."

Stock appreciation rights and phantom stock arrangements are equity compensation plans similar to stock options. Companies make grants to eligible employees, who in turn have the right to the monetary equivalent - frequently paid in cash - of any potential increase in value related to the underlying shares after a fixed period of time.

Stock appreciation rights and phantom stock are becoming increasingly attractive to plan sponsors and participants, as companies do not have to issue stock at the time of grant (thereby eliminating dilution issues), and employees are generally not required to buy and sell any actual shares.

Fidelity's Stock Plan Services group offers comprehensive equity compensation plan solutions - including stock option, employee stock purchase, control/restricted stock and now enhanced stock appreciation rights and phantom stock arrangements - to institutional clients and their employees based in the U.S. and overseas. Among the variety of services available, Fidelity provides extensive online, in-person and printed educational resources to help participants better understand and maximize their companies' stock plan offerings.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.9 trillion, including managed assets of $1.0 trillion as of March 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.

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Recordkeeping services provided by Fidelity Stock Plan Services, LLC
Brokerage services provided by Fidelity Brokerage Services LLC, Member NYSE, SIPC.
100 Summer Street, Boston, MA 02109