BOSTON, August 7, 2007 -- Fidelity Investments^® announced today that Ellyn A. McColgan, president of Fidelity Investments Distribution and Operations, has resigned in order to pursue opportunities outside of the company.

Ms. McColgan joined Fidelity in 1990 and has held senior management positions within the company's 401(k) client services division, the 403(b) business for not-for-profit institutions, the intermediary business and Fidelity Brokerage Company.

"Ellyn McColgan made many positive contributions to the firm during her tenure here, and I wish her the best in the next phase of her career," said Edward C. Johnson 3d, chairman and chief executive officer.

Johnson said Rodger A. Lawson, who recently was appointed to oversee distribution and operations as well as other parts of the company as president of FMR Corp., will assume immediate day-to-day control over distribution, until Ms. McColgan's replacement is named.

"Rodger and I will work jointly on operational matters for an interim period, during which we will fine-tune the organizational structure in order to enhance and grow the business," Johnson said.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.2 trillion, including managed assets of $1.5 trillion as of June 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.

# # #