BOSTON, April 6, 2006 - In an effort to increase giving across the U.S., the Fidelity Charitable Gift Fund today announced that it is reducing the fee charged for administering the vast majority of Giving Accounts^® in its donor-advised fund program - the largest in the nation -- by at least 40 percent.

Beginning July 1, 2006 the Gift Fund will reduce the administrative fee on Giving Account balances from the current 1.00% to .60%. Further reductions will be applied to account balances exceeding $500,000. As a result, a Giving Account balance of $20,000 will incur roughly $80 less in administrative fees per year. A Giving Account balance of $75,000 will incur $300 less in fees per year¹. The administrative fee covers the cost of grant and contribution processing, verification of the charitable status of organizations and other donor services.

"The mission of the Gift Fund always has been to increase the level of charitable giving across the United States. More than 39,000 donors have turned to us for help in planning their giving to make a bigger impact on charity," said David Giunta, president, Fidelity Charitable Gift Fund.

"Sometimes we're able to encourage more giving through program and service enhancements. In this instance, a combination of operational efficiencies and our recent record growth have allowed us to reduce fees, and enable donors to give even more to the charities they support."

An improving economy and the nation's charitable response to recent natural disasters drove giving activity at the Gift Fund to new highs in 2005. Total grants to charities from the Gift Fund exceeded $846 million. First quarter 2006 granting has increased 31 percent and contributions are up more than 38 percent year-over-year.

The pricing reduction follows recent changes to the Gift Fund's investment pool programs that have also reduced Giving Account costs. The investment management fees on the Money Market and Total Market Index Pools have been reduced from .42% to .18% and from .10% to .07%, respectively. More than 40% of donor Giving Accounts benefit from this change.

The fee reductions also build on key enhancements made last year to the Gift Fund investment pool program and the introduction of the Endowed Giving Program, a simplified alternative to traditional endowed giving programs that gives donors working directly or with an advisor a simple way to establish a charitable legacy -without the burden of administrative or due diligence responsibilities.

"Donor-advised funds are part of a fundamental shift in philanthropy toward more strategic and thoughtful giving by a broad spectrum of donors - a shift that we believe will continue to result in more dollars flowing to the nation's charities." added Giunta. "We are committed to enhancing our programs and providing superior value to help advance giving in the U.S. and make it easier for more Americans to include charitable giving as part of their overall financial plans."

About Fidelity Charitable Gift Fund

The Fidelity Charitable Gift Fund is one of the nation's largest public charities and has the largest donor-advised fund program in the country². The Gift Fund was established by Fidelity Investments^® in 1991. The mission 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 39,000 donors have recommended grants totaling more than $5.8 billion to more than 95,000 nonprofit organizations nationwide. For more information on the Fidelity Charitable Gift Fund, visit charitablegift.org.

¹The Gift Fund's minimum administrative fee of $100 for an individual Giving Account remains unchanged.

²Chronicle of Philanthropy Rankings, 2005.

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The Fidelity Charitable Gift Fund is an independent public charity. Various Fidelity companies provide non-discretionary investment management and administrative services to the Gift Fund. Charitable Gift Fund and the Charitable Gift Fund logo are service marks, and Giving Account, Lifetime Giving, Legacy Giving and Preservation Giving are registered service marks, of the Trustees of the Fidelity Charitable Gift Fund. Fidelity Investments is a service mark of FMR Corp. used by the Gift Fund under license.