FIRST-QUARTER 2008 BROKERAGE RESULTS:

•		Fidelity Investments today announced total client assets across its three brokerage units (Fidelity Retail Brokerage, Fidelity Institutional Wealth ServicesSM and National Financial®) increased 8 percent to $1.908 trillion in the first quarter of 2008 compared to one year ago. The company attributed the growth to increased net flows in its Institutional Wealth Services and Retail Brokerage units.
•		Fidelity's three brokerage units had record trading activity in the first quarter of 2008 with daily average commissionable trades reaching 441,745, up 23 percent from one year ago. The combined daily average commissionable trades of Retail Brokerage and Institutional Wealth Services make Fidelity's online trading business the fastest growing among the major online brokers1.
•		Fidelity's total brokerage accounts increased to 18.3 million in the first quarter, and the firm added $41.3 billion in net new client assets under administration across all it brokerage businesses.
•		In the first quarter, the Retail Brokerage unit continued to grow with daily average commissionable trades up 37 percent, net new client assets up 7 percent, total ending client assets up 6 percent and total client accounts up 4 percent.
•		Fidelity Institutional Wealth Services (IWS) experienced double-digit growth during the first quarter, with daily average commissionable trades up 35 percent, total client ending assets up 29 percent and total client accounts up 14 percent compared to the first quarter of 2007. IWS' net new client assets increased by $14.6 billion.

HIGHLIGHTS OF FIRST-QUARTER 2008 INITIATIVES:

•		Fidelity came in first place, setting a new high for online brokerage company rankings in The 2007 American Customer Satisfaction Index (ACSI) E-Commerce Report. The ACSI measures satisfaction with the quality of goods and services available in the United States.
•		Barron's ranked Fidelity as the top brokerage firm for buy and hold investors, beating out 22 other software- and web-based brokerages2. Fidelity also tied for first place in the categories of Best for Options Traders and Best for International Traders.
•		Fidelity and National Financial released new research on IRA ownership trends which showed that despite challenging economic conditions, many IRA owners were still making contributions to their IRA for the 2007 tax season. This was reflected in Fidelity's retirement season, which saw growth in gross flows and new account openings.
•		Fidelity enhanced its fixed income platform, Open Bond Market, through a partnership with TheMuniCenter. Now Fidelity retail customers can access roughly 50 percent more municipal bonds than before. Fidelity also introduced free online trading of secondary Treasury Inflation-Protected Securities (TIPS).
•		National Financial announced its third annual National Financial Broker and Advisor Sentiment IndexSM. The Index revealed an increase in the number of brokers and advisors considering switching jobs to a new firm, with most wanting to go to an independent broker/dealer, regional firm or registered investment advisor (RIA) group.
•		Fidelity Institutional Wealth Services introduced "Fidelity RIA MetricsSM: Profiles of the Fastest Growing Firms," a study of RIA firms with at least $25 million in assets under management. The study shed light on some of the common characteristics of the fastest growing RIA firms with regards to firm size, assets under management, years in business and products and services offered.
•		Fidelity Institutional Wealth Services launched its enhanced Fidelity Practice Management ProgramSM, an industry-leading platform designed to provide RIAs access to a comprehensive range of business resources that can help accelerate growth, streamline operations, and manage risk.

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 more than $1.5 trillion as of March 31, 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.

¹ Trading volume growth is based on a comparison of cumulative daily average commissionable trades from 1/1/03-3/31/08 as independently reported by Fidelity, E*Trade, Schwab and TD Ameritrade. The average includes commissionable trades from personal investing and registered investment advisor online equity and limit order trading activity, which rose 36 percent to a record 223,421 in the first quarter of 2008 compared to the same period in 2007.

²Barron's, March 17, 2008, "2008 Best Online Brokers: Making It Click" by Theresa Carey

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

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

National Financial Services LLC, Member NYSE, SIPC
200 Liberty Street, NY4F, New York, NY 10281

Fidelity Distributors Corporation
82 Devonshire Street, Boston, MA 02109