Fidelity Advisor Retirement Income Services Is Designed to Help Advisors Meet the Growing Client Demand for Retirement Income Planning

BOSTON, November 18, 2004 - With more than half of U.S. investable assets -- representing nearly $19.5 trillion -- projected to be in the hands of Americans 60 and older by 2012¹, Fidelity Investments today announced the expansion of its retirement income planning program to broaden financial advisors' understanding of the opportunity and bring new income planning strategies to their clients.

Fidelity Advisor Retirement Income Services, which launched in June 2004, now offers a workbook designed to provide advisors with a blueprint to help develop customized retirement income plans for their clients as well as a seminar to help them educate both clients and prospects about the key financial risks facing retirees.

"Through more than 50 seminars across the country with nearly 6,000 advisors, we are hearing loud and clear from advisors that they recognize the importance of income planning," said John Ragnoni, senior vice president, Fidelity Investments Institutional Services Company. "Sooner or later every American will be faced with the challenge of how to make their savings and retirement income sources last throughout their lifetime, and many will need help. This challenge represents a tremendous opportunity for advisors, and one they are well positioned to address.

"Fidelity Advisor Retirement Income Services was designed to complement our clients' existing processes for developing retirement income plans and managing them with their clients," Ragnoni said. "Our program, with its education, planning tools and product solutions, can help advisors plan for and address a very real and complex financial concern of their clients-how to successfully make the transition from saving for retirement to actually living a lifetime off those savings while managing their assets for continued growth."

Advisor Workbook

Designed as the blueprint for helping advisors develop customized retirement income plans with their clients, the workbook outlines a four-step process. First, it shows advisors how to assess a client's current situation by calculating their annual income gap and expected withdrawal rate. It then provides advisors with a process for calculating a client's essential expenses gap and outlines two strategic options to close that gap: a systematic withdrawal plan or a guaranteed income stream with annuities. Next, strategies for funding discretionary expenses are discussed. Lastly, a discussion outline is offered for a client meeting to present the plan, as well as topics for ongoing management of a retirement income plan.

The workbook, which is designed to work in conjunction with an advisor's other income planning resources, also includes worksheets, tips, and topics to consider for completing an income plan.

Shareholder Seminar and Kit

Working with their Fidelity wholesaler, advisors now have access to an investor seminar that they can conduct to educate both clients and prospects about the risks they face to their retirement income stream and how they can build a plan to help make their income last throughout their retirement.

In addition to the presentation itself, the comprehensive online kit provides advisors with marketing templates to prepare for and follow up on the event. Materials include an invitation, an at-event evaluation/appointment request form, and a post-event asset allocation brochure to help advisors stay organized, keep track of attendees, and initiate follow-up appointments.

The workbook and seminar join a suite of resources Fidelity has made available to advisors to assist them in helping their clients plan and invest for income in retirement as well as monitor their plans to meet their ongoing retirement income needs. These materials range from an expense "fact finder" worksheet and income planning whitepaper that advisors can offer their clients to a variety of product choices an advisor should consider when evaluating a client's retirement income plan.

"As a baby boomer myself, I am well aware of the concerns and risks facing the millions of Americans heading toward retirement," said Sherry Delo, a Certified Financial Planner and President of Delo Advisors, St. Louis, MO. "To make sure we are better prepared for the future, investors and advisors alike can begin to shift their focus from accumulation to distribution to help offer a retiree's savings the opportunity to grow and be spent wisely during retirement. Fidelity Advisor Retirement Income Services provides advisors with not only a reality check on the actual risks clients can face to retirement income but also access to a broad range of useful resources to help address those risks and better help prepare them for a financially secure retirement."

About Fidelity Investments Institutional Services

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 $198.3 billion as of September 30, 2004. For more information about Fidelity Investments Institutional Services, visit advisor.fidelity.com.

About Fidelity Investments

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 October 31, 2004. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to more than 19 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.

# # #

Please carefully consider the funds' investment objectives, risks, charges and expenses before investing. For this and other information, call your investment professional or visit advisor.fidelity.com for a free prospectus. Read it carefully before you invest or send money.

Not FDIC insured. May lose value. No bank guarantee. Not NCUA or NCUSIF insured. May lose value. No credit union guarantee. Fidelity Investments & Pyramid Design and Fidelity Advisor Funds are registered service marks of FMR Corp.

Fidelity Investments Institutional Services Company, Inc.

82 Devonshire Street, Boston, MA 02109

¹Cerulli Associates, "The Cerulli Edge" August 2004.