Fidelity Expands Municipal Bond Inventory with TheMuniCenter;
Introduces Online Trading of Secondary Treasury Inflation-Protected Securities (TIPS)

BOSTON, March 26, 2008 - Fidelity Investments today announced that it has significantly expanded its Open Bond Market through a new partnership with TheMuniCenter (TMC). Fidelity retail customers can now buy approximately 14,000 fixed income securities, roughly a 40 percent increase in inventory, enabling a highly transparent and competitive market environment that benefits investors. The Open Bond Market is Fidelity's online destination for comprehensive tools and information on fixed income securities, helping to make the trading of individual bonds more accessible, affordable and easier to understand.

Additionally, Fidelity's customers can now trade secondary Treasury Inflation-Protected Securities (TIPS) online at Fidelity.com, complementing the existing TIPS trading services available through Fidelity's phone representatives and at its 123 Investor Centers nationwide.

"We believe that fixed income investments play an important part in any diversified investment portfolio," said James C. Burton, senior vice president, Fidelity Personal and Workplace Investing. "Investors interested in individual bonds need a broad choice of fixed income inventory and innovative trading tools that will enable them to buy bonds with the same simplicity available for equity trading."

Screening for Quality and Price

Each day Fidelity taps an inventory of approximately 40,000 bonds from three sources: TheMuniCenter, BondDesk Group and Fidelity Capital Markets Services. In order to determine which bonds are displayed on the Open Bond Market, Fidelity filters the available inventory using criteria including price, credit rating and yield. After the firm's screening criteria are applied, and with the new TMC inventory, customers will be able to select among roughly 14,000 bonds per day to trade in the Open Bond Market.

"We at TMC are pleased to be a provider of municipal bond inventory to Fidelity's retail network," said Thomas S. Vales, CEO of TheMuniCenter. "As a leading bond aggregator, we take content from hundreds of providers, enabling us to provide Fidelity customers with access to a competitively priced supply of bonds from a diverse range of issuers and states."

TIPS Trading Streamlined

Fidelity has provided information about TIPS on Fidelity.com since 2006, and customers could trade with a customer service representative. Customers can now simplify the order process by trading secondary TIPS online at Fidelity.com at no cost.

TIPS can be attractive to investors who are concerned about inflation, because the principal for TIPS adjusts according to the consumer price index. When TIPS mature, a customer is paid the adjusted principal or original principal (based on the date of original issuance), whichever is greater.

Market Leading Fixed Income Platform

Fidelity's Open Bond Market was awarded the only "A" rating in a December 2007 study that examined the trading, search, tools and resources of 18 fixed income platforms by Corporate Insight, a leading provider of competitive intelligence¹. Fidelity was noted for having superior product availability, "sophisticated bond ladder tools" and "sophisticated screening capabilities to search for bonds and CDs."

Full Range of Fixed Income Choices

Fidelity has helped investors diversify their portfolios through fixed-income markets since launching its first bond fund in 1976. The firm believes that, for most investors, professionally managed bond funds offer the most effective and convenient way to invest in fixed-income securities. To that end, Fidelity offers a full product line of U.S. Government, municipal and corporate bond funds. At the same time, Fidelity has a long history of innovations in its mission to make the fixed income markets more accessible and transparent for those investors who wish to manage their own bond portfolios. Through its Open Bond Market, Fidelity offers a wide range of individual fixed-income securities, including U.S. Treasuries from 1-month Treasury Bills to 30-year Treasury Bonds, inflation-protected notes, CDs, and a variety of bonds, including corporate, municipal, government agency, and principal-protected notes.

Fidelity launched its Open Bond Market on Fidelity.com in 2004, and led the industry by introducing simplified and transparent bond concessions. More recently Fidelity further lowered those online transparent bond concessions to $1 per bond (subject to $8 minimum) and no cost for treasuries.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $3.3 trillion, including managed assets of more than $1.5 trillion as of February 29, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 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.

¹Corporate Insight, Inc.'s e-Monitor Report - December 2007: Online Fixed Income Trading

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Before investing, consider the funds' investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus containing this information. Read it carefully.

In general, the bond market is volatile, and bond prices rise when interest rates fall and vice versa. This effect is usually pronounced for longer-term securities.

Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

If sold prior to maturity, CD's may be sold on the secondary market subject to market conditions.

Diversification does not ensure a profit or guarantee against loss.

Past performance is not a guarantee of future results.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
100 Summer Street, Boston, MA 02110