Ibbotson to Provide Investment Advisory Service for
Mutual Fund Recommendations and Portfolio Adjustments within
Fidelity's Defined Contribution Planning Tools and Services

BOSTON, May 26, 2005 -- Fidelity Investments today announced a new agreement with Ibbotson Associates, a highly regarded institutional investment advisor and leading authority on asset allocation strategies, to offer independent investment advisory services to the more than 10,000 defined contribution plan sponsors serviced by Fidelity, for their participants.

The new service will provide 401(k), 403(b) and 457 plan participants who are seeking investment advice the ability to receive independent professional investment model portfolio recommendations and directly implement them through Fidelity's defined contribution planning tools and services. The new offering broadens Fidelity's existing guidance strategies available through Strategic Advisers, Inc., a Fidelity affiliate, and will be available to Fidelity plan sponsors nationwide by the end of this year.

"We continue to see an increasing interest among our defined contribution plan sponsors for independent professional advisory services," said Steve Deschenes, executive vice president, Fidelity Institutional Retirement Services Company. "By working with Ibbotson, we now offer plan participants access to an additional source of assistance in managing their portfolios that can help them further improve their retirement readiness."

Using Fidelity's suite of planning tools and services, either through Fidelity NetBenefits^SM or via phone through a Fidelity customer service specialist, employees in Fidelity-serviced 401(k), 403(b) and 457 plans can define savings goals, develop an investment strategy, identify risks, and rebalance their portfolio by implementing changes immediately either online or on the phone.

The agreement is an extension of Fidelity's current relationship with Ibbotson, under which Ibbotson, along with Fidelity's registered investment advisor, Strategic Advisers, Inc., serves as sub-advisor for Fidelity's Retirement Plan Manager discretionary management service.

"Fidelity and Ibbotson share a strong commitment to providing investment tools and information that help investors meet their goals," said Mike Henkel, president of Ibbotson Associates. "We are happy to be able to provide Fidelity with a solution that both meets their customers' independent investment advice needs, and enhances their current guidance offering."

"Our expanded guidance offering is a significant service enhancement for the more than 12 million investors saving for retirement through workplace plans Fidelity serves," Deschenes said. "Our agreement with Ibbotson strengthens our leadership position in helping Americans prepare financially for retirement."

About Ibbotson
Ibbotson Associates, founded in 1977 by Professor Roger Ibbotson, is a leading authority on asset allocation, providing products and services to help investment professionals obtain, manage and retain assets. The company's business lines include investment consulting and research; planning and analysis software; investment advice; educational and marketing services and a widely used line of NASD-reviewed presentation materials. With offices in Chicago, New York and Tokyo, Ibbotson Associates markets its integrated product line to institutional money managers, insurance companies, plan sponsors and consultants, financial planners, brokers, mutual fund firms, hedge funds, banks and small money managers.

About Fidelity Employer Services Company
Fidelity Employer Services Company provides benefits and human resources administration, workforce effectiveness, payroll solutions and stock plan services to over 19 million employees in the U.S. as of April 30, 2005.

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 April 30, 2005. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 19 million individuals and institutions as well as through 5,500 financial intermediary firms. 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.

# # #

Fidelity Investments and Ibbotson Associates are not affiliated.

Fidelity Investments Institutional Services Company, Inc.,
82 Devonshire Street, Boston, MA 02109