BOSTON, April 26, 2005 - Fidelity Investments today announced that it is closing Fidelity International Small Cap Fund (including Advisor share classes) to new accounts. As of the close of business on May 5, 2005, new purchases in the fund will be limited to existing shareholders.

Fidelity International Small Cap Fund seeks capital appreciation by investing primarily in the securities of non-U.S. companies with small market capitalizations. Ben Paton and Tokuya Sano co-manage the fund, which was launched in 2002.

"A growing asset base and strong cash inflows have led us to decide that it's in the best interests of the shareholders of International Small Cap Fund to close the fund to new investors," said Philip L. Bullen, senior vice president and head of international and institutional investments for Fidelity Management & Research Company. "The fund has performed well since it opened two and a half years ago, and investors have noticed. Consistently strong inflows, combined with capital appreciation of the fund's stocks, have caused the fund's assets to grow from $747.5 million at the end of 2003 to $2.1 billion on March 31, 2005. We believe that limiting new purchases of the fund will benefit Ben and Tokuya in their management of this fund at this time."

Fidelity will open new accounts in International Small Cap Fund (including Advisor share classes) until 4:00 p.m. ET on May 5, 2005. After that, existing shareholders who are invested in the fund will continue to be able to add to their accounts. Employer-sponsored retirement plans may be able to open additional accounts for plan participants if the fund was an established plan option as of May 5, 2005. However, after May 5, 2005, Fidelity will no longer accept new investors into the fund, and retirement plan sponsors and investment advisors who have not established the fund as an investment option by May 5, 2005, will no longer be able to do so.

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 February 28, 2005. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 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.

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Please carefully consider the fund's investment objectives, risks, charges and expenses before investing. For this and other information, call or write to Fidelity or visit Fidelity.com for a free prospectus. Read it carefully before you invest or send money.

Foreign investing involves greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations.

Fidelity Distributors Corporation
82 Devonshire Street, Boston, MA 02109