BOSTON, June 1, 2006 - Fidelity Investments today announced that it is closing Fidelity Small Cap Stock Fund to new accounts. As of the close of business on June 16, 2006, new purchases in the fund will be limited to existing shareholders.

Fidelity Small Cap Stock Fund seeks long-term growth of capital by investing at least 80 percent of its assets in common stocks of companies with small market capitalizations (those with market capitalizations similar to companies in the Russell 2000 Index or the S&P Small Cap 600 Index). Paul Antico has managed the fund since its inception in 1998.

"Small-cap funds have had a run of strong performance relative to other asset classes over the past several years," said Bruce T. Herring, chief investment officer overseeing the growth, value, small-cap and mid-cap groups for Fidelity Management & Research Company. "Small Cap Stock Fund has experienced strengthening investor cash flows and a steadily growing asset base. For example, on April 30, 2006, the fund's assets were $5.2 billion, up from $4.3 billion on December 31, 2005. We've analyzed the situation closely, and believe that it's in the best interests of shareholders to close the fund to new investors at this time. We believe that will give Paul the best possible opportunity to successfully build upon the fund's long-term performance track record."

Fidelity will open new accounts in Fidelity Small Cap Stock Fund until 4:00 p.m. EST on June 16, 2006. After that, investors generally will not be able to open new accounts in the fund. However, existing shareholders who are invested in the fund will continue to be able to add to their accounts. Employer-sponsored retirement plans and certain discretionary programs offered by registered investment advisors may be able to open additional accounts for investors if the fund were established as an option as of June 16, 2006. However, after June 16, 2006, Fidelity will no longer accept new investors into the fund, and retirement plan sponsors and investment advisors who have not established the fund as an investment option by June 16, 2006, will no longer be able to do so.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $2.6 trillion, including managed assets of $1.3 trillion as of April 30, 2006. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 22 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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Please carefully consider the fund's investment objectives, risks, charges and expenses before investing. For this and other information, call or write to Fidelity or visit Fidelity.com for a free prospectus. Read it carefully before you invest or send money.

Fidelity Distributors Corporation
82 Devonshire Street, Boston, MA 02109