BOSTON, June 14, 2004 - Fidelity Investments today announced it has begun providing integrated administrative services for TRW Automotive's stock option, 401(k), pension and health and welfare benefit programs as part of a total outsourcing agreement.

Through the comprehensive agreement now in effect, the auto supplier's 34,500 U.S. employees and retirees gain the added convenience of a single service provider for all of their benefits needs, including enhanced online tools and resources.

"Integrating our retirement, stock plan and health and welfare benefits programs with Fidelity not only improves efficiencies in administration, it also enhances our employees' abilities to maximize the value of their benefits," said Steve Kiwicz, vice president, compensation and benefits for TRW Automotive. "Through a single point of contact on the phone or via the Internet, our employees will have access to Fidelity's broad suite of services and advanced planning tools and calculators, which will enable them to make better benefits decisions."

Fidelity will provide administration services for TRW Automotive's benefit plans as follows:

•		Stock Plan - Last month, Fidelity began administering TRW Automotive's stock option plan. Fidelity provides full plan administration and participant services, giving employees access to a variety of educational resources as well as the ability to easily view, model and exercise their company stock options online.
•		401(k) Plans - In July, Fidelity will begin providing trustee, investment management, recordkeeping, and employee communication and education services for TRW Automotive's 401(k) plans, covering more than 11,000 participants in the U.S. TRW Automotive employees will have convenient online access to their defined contribution accounts for benefit statements, account transactions, retirement modeling, information about their company's plan and investment options, and an array of retirement planning tools.
•		Defined Benefit Plans - Beginning in January 2005, Fidelity will provide administration services for TRW's defined benefit pension plans, covering more than 22,500 active and retired employees in the U.S. Defined benefit administration services include data management, event processing, benefit calculations, online retirement modeling, retiree check disbursements and post-retirement administration services.
•		Health & Welfare Plans - Effective with this fall's annual enrollment for 2005 benefits, Fidelity will manage and provide administration services for TRW Automotive's health and welfare plans, covering more than 13,000 employees and their dependents in the U.S. Serving as the single interface between TRW Automotive and its vendors, Fidelity will deliver online tools and administration resources, such as full-service enrollment, regulatory compliance and life-event processing for all medical, dental and vision programs.

"We are pleased that TRW Automotive has chosen to outsource all of its benefit programs with Fidelity," said Guy Patton, president, Fidelity Human Resources Services Company. "With our technology platform, customer service and operational experience, we can help TRW streamline the delivery of its benefits plans, enabling its human resources professionals to turn their focus to more strategic issues that will help achieve the company's business goals."

About TRW

With 2003 sales of $11.3 billion, TRW Automotive ranks among the world's top 10 automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, employs approximately 61,000 people in 23 countries. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. TRW Automotive news is available on the internet at www.trwauto.com.

About Fidelity Employer Services Company

Through its Fidelity Human Resources Services Company and Fidelity Institutional Retirement Services Company units, Fidelity Employer Services Company provides benefits and human resources administration, workforce effectiveness, payroll solutions and stock plan services to over 17.3 million employees in the U.S. as of April 30, 2004. Additionally, through its HR Access acquisition, Fidelity provides HR and payroll applications for about 12 million employees in Europe.

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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Fidelity Investments and TRW Automotive are not affiliated.

Fidelity Employer Services Company LLC

Defined contribution products and services are offered by Fidelity Investments Institutional Services Company, Inc., 82 Devonshire Street, Boston, MA 02109