BOSTON, June 21, 2005 -- Fidelity Investments today announced William C. Carey has been appointed president of Fidelity Registered Investment Advisor Group, a leading provider of custody and brokerage services to approximately 2,750 advisors with more than $133 billion in assets.¹

Carey, 44, is a 12-year Fidelity veteran who previously was president of Fidelity Institutional Retirement Services Company, the nation's largest provider of 401(k) plans. He reports to Ellyn A. McColgan, president, Fidelity Brokerage Company, and succeeds Jim MacGilvray, who has been interim president of Fidelity's RIA business since January.

"Our RIA business is an important focus and Bill's appointment underscores our commitment to its expansion in the marketplace," McColgan said. "Bill's broad institutional sales and marketing experience, combined with his leadership and passion for client service, make him the right executive to further the momentum we have established in recent years.

"Bill joins a strong management team which will continue delivering advisors a leading offering of technology, product and service solutions that position them for long-term success," McColgan said.

From January 2000 to April 2003, Carey was executive vice president responsible for Fidelity's 401(k) business focused on small companies. Prior to Fidelity, he held senior sales management positions in the retirement and employee benefits group of Aetna. He earned a bachelor of arts in economics from Bates College, Lewiston, Maine.

About Fidelity Registered Investment Advisor Group

Fidelity is the second largest provider of custody and brokerage services to the registered investment advisor marketplace, with $133 billion in assets on behalf of more than 2,700 advisors as of May 31, 2005. Fidelity provides access to a flexible, open technology environment, extensive practice management resources, and wealth management investments and services--all backed by the long-term commitment of a private company. Dedicated relationship professionals work consultatively to help advisors choose the products and services that are in the best interests of their clients and make the most sense for their business. For more information about Fidelity's services for advisors, please visit http://ria.fidelity.com.

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 May 31, 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.

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Clearing, custody or other brokerage services may be provided by National Financial Services LLC, or Fidelity Brokerage Services LLC, Members NYSE, SIPC.

¹As of May 31, 2005.