Picher brings 24 years of experience to new role

BOSTON, June 6, 2007 - Pyramis Global Advisors, a Fidelity Investments Company, today announced the appointment of David J. Picher as senior vice president and head of Global Consultant Relations. In his new role, Picher will lead the Pyramis consultant relations team and work directly with the consultant community.

Picher brings to Pyramis nearly 24 years of experience in sales and management roles in the investment and institutional asset management industry, and has spent the past 12 years with MFS Investment Management. At MFS, he led the firm's global consultant relations efforts, working closely with institutional consultants and plan sponsors. In addition, Picher had five years of sales experience working with bank trust and corporate defined contribution clients during a previous tenure at Fidelity from 1986 to 1991.

"David brings a wealth of experience across key market segments to Pyramis, and an extensive understanding of the issues that plan sponsors and consultants are confronting today," said Drew Lawton, president, Pyramis Global Advisors Trust Company. "We are pleased to bring him to Pyramis to further strengthen our consultant relations operations."

About Pyramis Global Advisors

Pyramis Global Advisors, a unit of Fidelity Investments, is an investment management company focused on serving corporate and public retirement funds, endowments, foundations, other institutions, and non-U.S. investors. The company offers active and risk-controlled domestic equity, international equity, fixed-income and alternative disciplines. At March 31, 2007, assets invested in those disciplines totaled more than $147 billion. For more information about Pyramis Global Advisors, visit www.pyramis.com.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.1 trillion, including managed assets of $1.4 trillion as of April 30, 2007. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 23 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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Pyramis Global Advisors
82 Devonshire Street, Boston, MA 02109

Pyramis Global Advisors consists of Pyramis Global Advisors, LLC (PGALLC), Pyramis Global Advisors Trust Company (PGATC), Fidelity Management Trust Company (FMTC), Pyramis Global Advisors Holdings Corp., and Fidelity Investments Canada Limited. Investment services are provided by PGALLC, a registered investment advisor, PGATC, a New Hampshire chartered trust company, and/or Fidelity Management Trust Company, a Massachusetts chartered trust company.