Advisor Classes of Fidelity Asset Manager Funds Are Actively Managed
to a Neutral Target Asset Mix That Ranges From Conservative to Aggressive

BOSTON, October 11, 2006 -- Fidelity Investments today announced that it has significantly expanded its line-up of asset allocation funds available through financial advisors with the launch of Advisor classes of the Fidelity Asset Manager^® funds: Fidelity Advisor Asset Manager 20%, Fidelity Advisor Asset Manager 50% and Fidelity Advisor Asset Manager 85%.

Additionally, Fidelity Advisor Asset Allocation Fund has been renamed Fidelity Advisor Asset Manager 70%. Each of the Fidelity Advisor Asset Manager funds will be available with Class A, T, B, C and Institutional shares. Fidelity now offers advisors and their clients access to a family of 88 Advisor funds.

Each Advisor Asset Manager fund is managed to a neutral target asset mix that ranges from conservative to aggressive, and each fund name reflects the anticipated equity allocation percentage for each fund. For example, Fidelity Asset Manager 20% is managed to typically have approximately 20% of its assets invested in stocks.

"If there is one thing that the markets of the past few years have taught us, it's the importance of a well thought-out, diversified portfolio," said Lynne Goldman, senior vice president, Fidelity Investments Institutional Services Company, Inc. "As a result, advisors are increasingly looking for a single-fund option that delivers appropriate diversification across major asset classes and sectors, while providing active risk management."

Managed by 37-year Fidelity veteran Richard Habermann, Fidelity Advisor Asset Manager funds actively allocate assets across stocks, bonds and short-term securities. Habermann will have access to various internally-managed sector portfolios run by members of Fidelity's analyst team. Combining multiple sector portfolios provides a unique way to build a diversified portfolio while still benefiting from the specialized focus of an investment in a particular sector^*.

"With the Fidelity Advisor Freedom Funds and now the Fidelity Advisor Asset Manager funds, we are offering advisors access to one of the industry's deepest menus of asset allocation and lifecycle funds in an effort to help them more effectively meet the distinct investment needs of their clients," said Goldman.

About Fidelity Investments Institutional Services Company

Fidelity Investments Institutional Services Company provides investment management services through investment professionals at financial institutions nationwide, including wirehouses, regional and independent broker/dealers, banks, trust companies and insurance companies. The company offers Fidelity Advisor Funds^®, Variable Insurance Product (VIP) Portfolios, institutional money market funds and a comprehensive line of retirement products and services. Fidelity Investments Institutional Services Company's total assets under management were more than $231 billion as of August 31, 2006. For more information, advisors may visit https://advisor.fidelity.com.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $2.7 trillion, including managed assets of $1.3 trillion as of August 31, 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, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

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Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact your investment professional for a prospectus or visit advisor.fidelity.com for a Fidelity Advisor fund prospectus containing this information. Read it carefully before you make your investment choices.

Interest rate increases can cause the price of a debt security to increase. Stock values fluctuate in response to the activities of individual companies and general market and economic conditions.

^*Diversification does not ensure a profit or guarantee against a loss.

Fidelity Advisor Funds are available through investment professionals.

Fidelity Investments Institutional Services Company, Inc.
82 Devonshire Street, Boston, MA 02109.