BOSTON, May 6, 2008 - Fidelity Investments announced today that Larry C. Renfro, who held several senior positions at the firm in the 1980s and has been president and chief executive of AARP Services, Inc., for the past three years, is rejoining the firm to oversee a number of growing businesses and strategic initiatives in a new division called Fidelity Developing Businesses.

"I knew Larry when he was at the company previously, and he is a highly talented executive," said Fidelity President Rodger A. Lawson. "He is a creative, collegial and hands-on leader who will bring excitement and focus to Fidelity's developing businesses and initiatives."

Renfro, 54, was with Fidelity from 1981 to 1988, holding a number of senior executive positions with responsibilities for service delivery, customer communications, advanced applications and implementation of the company's regional strategy. Most recently at the firm, he was president of Fidelity Retail Services and a managing director of FMR Corp., the holding company for Fidelity's businesses.

After leaving Fidelity, Renfro held senior positions at State Street Bank & Trust for two years. He then went to Allmerica Financial, where for eight years he was vice president and group executive in charge of the Institutional Services division, overseeing sales, marketing, product development, retirement operations, cash management and information systems.

Before joining AARP in 2005, Renfro was chairman and chief executive of NewRiver, Inc., a supplier of compliance services to the financial services industry. At AARP Services, Renfro was responsible for a wide range of financial and other products and services offered as benefits to AARP's 40 million members. The offers span health products, financial products and lifestyle products and services.

As president of Fidelity Developing Businesses, Renfro will report to Lawson and oversee Fidelity HR Services Company, which provides HR, payroll and benefits services to companies; Fidelity Investments Life Insurance Company ; Fidelity Charitable Services, which provides services to Fidelity Charitable Gift Fund, the nation's largest donor-advised fund; the firm's Corporate Business Development unit, which is responsible for acquisition activities; and several new business initiatives.

"These businesses are in various stages of development, each with a unique set of challenges and opportunities," said Lawson. "Additionally, we have some exciting initiatives on the drawing board. We are delighted to have a person with Larry's experience and drive to oversee the next phases of growth."

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.

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