BOSTON, June 9, 2005 - The Fidelity Charitable Gift Fund^SM, the nation's No. 1 grant maker among donor-advised fund programs¹ and one of the nation's largest independent public charities,² today announced that it has surpassed $5 billion in grants recommended by its donors to more than 88,000 IRS-approved nonprofit organizations nationwide since it was founded in 1991.

The power of donor-advised funds to assist the nation's charities in their fundraising efforts is evident in the Gift Fund's most recent grant making figures. Year-to-date through April 30, 2005, the Gift Fund -- through the recommendations of its donors -- granted $246 million to charitable organizations, an 11 percent increase over the same time period last year.

"The $5 billion milestone reflects the continued generosity of our donors and demonstrates how the donor-advised fund model has attracted more individuals to charitable giving by making it easy to become an organized, thoughtful giver," said Jon Skillman, president, Fidelity Charitable Gift Fund. "In addition, our data continue to demonstrate that donors are recommending grants throughout the year, not just at year-end, and that this year, despite uncertainty in the markets, is shaping up to be another solid year for U.S. charities."

Year-to-date through April 30, 2005, the Gift Fund's donors have granted $77 million to community and human services organizations, $75 million to religious organizations, $57 million to education nonprofits, $22 million to the arts, $12 million to medical research and $3 million to environmental causes.

"Donor-advised funds, such as the Gift Fund, continue to play an increasingly important role in advancing charitable giving in America, and we will continue to look for ways to enhance our program to help make it easier for Americans to include charitable giving as part of their personal and financial planning," said Skillman.

About Fidelity Charitable Gift Fund

Fidelity Charitable Gift Fund, a donor-advised fund and one of the nation's largest independent public charities, was established by Fidelity Investments^® in 1991. The purpose of the Gift Fund is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. Since the Gift Fund's inception, more than 34,000 donors have recommended grants totaling more than $5.0 billion to over 88,000 nonprofit organizations nationwide. For more information on Fidelity Charitable Gift Fund, visit www.charitablegift.org.

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The Fidelity Charitable Gift Fund ("Fund") is an independent public charity and donor-advised fund. Various Fidelity companies provide non-discretionary investment management and administrative services to the Fund.

Charitable Gift Fund, the Charitable Gift Fund logo are service marks of the Trustees of the Fidelity Investments Charitable Gift Fund. Fidelity is a service mark of FMR Corp. used by the Fund under license.

¹ Fidelity Charitable Gift Fund ranking determined by The Chronicle of Philanthropy, May 27, 2004.
² The Chronicle of Philanthropy, The Philanthropy 400, October, 2004.