Reports record retirement savings, net new client assets and commissionable trades for individual investors

BOSTON, April 20, 2006 - Fidelity Investments today announced first quarter results for Fidelity Brokerage Company showing that for the three months ended March 31, 2006, total client assets for Fidelity Brokerage Company rose 27 percent, total client accounts increased 8 percent, daily average commissionable trades increased 33 percent and net new client assets increased 65 percent, compared with first quarter 2005.

For the first quarter 2006, total client assets under administration for the company were $1.5 trillion, an increase of 27 percent from $1.18 trillion one year ago. The increase in assets was largely driven by new client wins within National Financial and Fidelity Registered Investment Advisor Group and very strong flows from Fidelity Personal Investments.

Total client accounts on March 31, 2006 were 16.0 million, up 8 percent compared to 14.7 million over the same period in 2005.

Fidelity Brokerage Company also reported that first quarter 2006 daily average commissionable trades were 324,560, up 33 percent from 243,974 in the first quarter of 2005, with trades for individual investors near record levels.

Additionally, net new client assets, which include sales of Fidelity and non-Fidelity mutual funds and individual securities, were $50.6 billion, an increase of 65 percent compared with $30.8 billion in the first quarter of 2005. The increase resulted from Fidelity Personal Investments posting its strongest quarter ever in net new client assets, due in part to an exceptionally strong retirement season - - a lift of 63 percent over first quarter 2005.

"The great start Fidelity Brokerage Company has had in the first quarter of this year - with very strong flows, record trades and an extremely strong retirement season - clearly demonstrates the recognition by the marketplace of our unique value proposition and continuing innovation and leadership in trading and retirement products and services," said Ellyn A. McColgan, president, Fidelity Brokerage Company. "Increasing numbers of Americans want to take control of their financial futures, and more are looking to Fidelity to help them succeed."

During first quarter, Fidelity Brokerage Company established a strategic relationship with JPMorgan, the investment banking unit of JPMorgan Chase & Co. (NYSE: JPM), that will enhance investor access, through Fidelity's Personal Investments, Institutional Advisor and Institutional Clearing businesses, to equity and fixed-income deals lead-managed by JPMorgan, which includes initial public offerings, secondary share sales and certain negotiated municipal bond offerings.

Retail Brokerage

Fidelity Personal Investments (FPI) continued its efforts during the first quarter to help individual investors plan and save to meet their financial goals. It launched a partnership with Amazon Services to bring information about Fidelity's full-range of retirement, mutual fund, brokerage trading and college-savings products and services to millions of Americans who visit Amazon.com each day. Fidelity also announced a planned expansion and enhancement of its popular Freedom Funds with new funds aimed at younger investors, and an extension of the "roll-down" period by five years. In addition, Fidelity strengthened its lineup of high-quality, low-cost index funds with three new Treasury bond funds.

Institutional Advisor and Institutional Clearing

During the first three months of 2006, Fidelity Registered Investment Advisor Group (FRIAG) and National Financial, Fidelity's clearing arm, made significant investments in their brokerage platforms to give a competitive advantage to their registered investment advisor (RIA) and correspondent broker/dealer clients. Both companies launched a managed account platform that will help their clients' fee-based high-net-worth businesses with simplified access to investment managers, flexibility to use a range of investments within a single portfolio, and numerous investment solutions that they can tailor to the way they do business. In addition, they enhanced their alternative investment platforms with a network of registered investments from well-known third-party investment management firms, an online management platform, and expanded reporting and custody capabilities.

Separately, FRIAG launched its RIA Roadmap tool the industry's first online resource to help RIA new entrants build a comprehensive plan for addressing virtually all critical areas associated with establishing a new practice. National Financial also added new business from five clients to the platform over the first quarter.

About Fidelity Brokerage Company

Fidelity Brokerage Company, one of the nation's leading brokerage firms with approximately $1.5 trillion in assets under administration, provides investment products, services and technology to 10.2 million individual investor accounts, more than 3,000 registered investment advisors and more than 350 broker/dealers and their 70,000 brokers. As of March 31, 2006, it served 16.0 million client accounts and executed more than 324,560 daily average commissionable trades.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $2.6 trillion, including managed assets of more than $1.2 trillion as of March 31, 2006. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 21 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.

National Financial's Managed Account Solutions service and Fidelity Managed Account Resources service are provided by Envestnet Asset management, Inc. ("Envestnet"), a third-party provider of investment management services. National Financial and Fidelity do not provide investment advisory services in connection with the Managed Account Solutions service.

Envestnet is not a corporate affiliate of National Financial or Fidelity.

FRIAG's Roadmap Planning Tool for RIA's is intended to provide you with general information you may want to consider as you prepare to become a registered investment advisor. This information is not individualized and is not intended to serve as the primary or sole basis for your decisions as there may be other factors that you should consider. An important step in establishing your business should be to consult with your own legal, compliance and tax professionals regarding your specific situation. Nothing in this tool should be construed as legal or tax advice.

¹Positions in assets held away will reflect the most recent market value that advisors provide, and roll up into the total market value of their clients' accounts at Fidelity. Information for assets not custodied by Fidelity Brokerage Services ("assets held away") is provided by the investment advisor or outside parties and is included for information purposes only. These positions are not part of the end-client's brokerage account carried by Fidelity Brokerage Services and therefore any SIPC account protection afforded to the end-client's account through Fidelity Brokerage Services does not cover these assets. Fidelity Brokerage Services is not responsible for the information provided and does not guarantee the accuracy or timeliness of the assets or prices reported.

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For more complete information on any Fidelity fund, including charges and expenses, call or write to Fidelity or visit fidelity.com for a free prospectus. Read it carefully before you invest or send money.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
100 Summer Street, Boston, MA 02110
National Financial Services LLC, Member NYSE, SIPC
Fidelity Distributors Corporation
82 Devonshire Street, Boston, MA 02109

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