Head of Fidelity's Advisor and Alliance Distribution Succeeds David Denison at Helm of Fund Complex

BOSTON, February 25, 2005 -- Fidelity Investments^® announced today it has named Robert L. Strickland, a 20-year financial services veteran, as president of Fidelity Investments Canada Limited. He succeeds David Denison, who left Fidelity to head the Canada Pension Plan Investment Board.

"Rob Strickland has a proven track record as a sales and general manager who aligns a company's strategic direction based on meeting the needs of its customers," said Robert L. Reynolds, Fidelity vice chairman and chief operating officer. "There is great opportunity for Fidelity in Canada, and we are delighted that Rob will be leading the charge as we grow our business in this marketplace."

Strickland, 43, joined Fidelity in 2003 in his current role as executive vice president and head of Fidelity Advisor and Alliance Distribution, which plays a key role in wholesaling to advisors, financial planners and the head offices of Canadian financial institutions.

Before joining Fidelity, Strickland held a number of senior positions with TD Bank Financial Group, including president, TD Waterhouse Financial Planning; chief operating officer, Tokyo-Mitsubishi TD Waterhouse Securities Co. in Tokyo; and president, TD Evergreen.

From 1986 to 1994, Strickland was with Nesbitt Burns Securities Limited, a subsidiary of Bank of Montreal, where he most recently was a vice president and branch manager. He began his career in 1984 with a mergers and acquisitions consultancy specializing in mid-market transactions.

Strickland received an honours in Business Administration from Wilfred Laurier University in Waterloo, Ontario, and a masters in Business Administration from McMaster University in Hamilton, Ontario.

About Fidelity Investments Canada Limited

Fidelity Investments Canada Limited is Canada's eighth largest mutual fund company. As of December 31, 2004, Fidelity Canada managed more than $31 billion in assets ($CAD) and offered Canadian investors a full range of domestic and foreign-content mutual funds.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $2.1 trillion, including managed assets of $1.1 trillion as of December 31, 2004. Fidelity offers investment management, retirement planning, brokerage, payroll, health and welfare benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is one of the largest mutual fund companies in the United States, a leading 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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