System Offers Advisors Institutional Level Functionality Via the Web
Combined with Comprehensive Support Provided by Fidelity

BOSTON, May 24, 2004 -- Fidelity Investments today announced that it has established a unique strategic relationship with New York-based Integrated Decision Systems (IDS) to offer registered investment advisors an institutional-level portfolio management and order generation system. As an integrated component of Fidelity's custody services, Fidelity will provide a single point of contact for service and support.

The Fidelity-IDS multi-custody offering will be built on an Application Service Provider (ASP) model, allowing advisors to access fully-reconciled client data via the Internet, while also providing the ability to replicate it on their desktops. The portfolio management and order generation system will offer advisors a high level of advanced functionality typically available only to large financial institutions, including customized client reporting, AIMR/GIPS-compliant performance measurement, trust separation of principal and income cash, and the ability to support a wide range of investment vehicles wealth managers increasingly demand. It also will automate tax aware order generation, from "what if" analysis to multi-tiered modeling and rebalancing, with no re-keying of data. Fidelity expects the offering to be available to advisors later this year.

"Combining a leading portfolio management and order generation system with our brokerage platform and commitment to service makes this a unique and compelling offering in the independent advisory marketplace," said Jay Lanigan, president, Fidelity Registered Investment Advisor Group. "Now advisors will have additional choice in their technology options and access to the sophisticated portfolio management capabilities they need to effectively service their high-net-worth clients."

"We are delighted that Fidelity has selected us to offer institutional portfolio management capabilities to independent advisors," said Donald Totter, CEO of IDS. "Our proven experience providing enterprise solutions to institutional clients combined with Fidelity's commitment to the independent advisor marketplace enables us to deliver a unique offering, one that allows advisors complete flexibility in how they do business."

Through an ASP model, the offering can help advisors reduce the amount of time and effort spent on operations, including local technology management, data management and reconciliation. It will be tightly integrated with Fidelity's brokerage platform, allowing online workflows to span Fidelity's and IDS' technology without re-keying. The portfolio management functionality and client data are hosted in web servers away from Fidelity to reinforce the independence of the advisor. The ASP model also offers advisors the flexibility to access their data virtually anytime, anywhere.

"Having the flexibility to access, manage and act on their information in a way that is consistent with how they do business is critical to independent advisors," said Pat Jancsy, senior vice president, Fidelity Registered Investment Advisor Group. "Combining the convenience and flexibility offered through the ASP model with the control of the desktop clearly is going to change the way advisors experience portfolio management by enabling them to spend less time managing technology and more time strengthening client relationships."

About IDS

Integrated Decision Systems (www.idsnet.com) is an industry leader in enterprise portfolio management solutions for the financial services industry, with over $4 trillion in assets under management on its systems. Since 1981, the Company's exclusive focus has been on creating highly scalable, open architecture solutions that provide encyclopedic functionality for a dynamic and diverse marketplace, combined with world-class systems support. IDS products are in production at many of the world's leading banks, brokerage firms, mutual funds, investment management firms, SMA sponsors and securities lending firms. The Company is headquartered in New York, with its Technology and Support center located in Los Angeles and a sales and support office in London.

About Fidelity Registered Investment Advisor Group

Fidelity is the second largest provider of custody and brokerage services to the registered investment advisor marketplace, with $105.6 billion in assets on behalf of more than 2,203 advisors as of April 30, 2004. 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 $1.8 trillion, including managed assets of $1.0 trillion as of April 30, 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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IDS is an independent company and is not affiliated with Fidelity.

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