Endowment-Like Investment Option Designed to Allow For Consistent Annual Giving with Principal Preservation

BOSTON, September 25, 2008 - The Fidelity^® Charitable Gift Fund^SM announced today the launch of its Charitable Legacy Pool, a long-term investment option for Charitable Gift Fund assets that is similar to that of an endowment. The strategy is designed to support long-term giving to charities while preserving the original charitable contributions which can help with a family's ongoing philanthropic activities not just for one year, or even one generation, but potentially in perpetuity.

The pool, which will be open to new and existing donors as of September 29, 2008, is designed to offer individuals a vehicle for consistent giving to a particular charity or charities year over year. Donors may recommend that assets be allocated to the pool with a minimum requirement of $100,000. The objective of the pool is to achieve an annual total return of 5% above inflation over extended time periods and market cycles from which a donor may recommend grants to charities of his or her choice. It may be used in conjunction with the 13 pools in the Gift Fund's program.

The pool will invest in a diversified range of asset classes, from traditional equity and fixed income vehicles to alternative strategies such as commodities, real estate and absolute return funds. The Charitable Legacy Pool invests in a universe of Fidelity and non-Fidelity mutual funds across a broad range of market capitalizations and sectors.

"Our donors have asked for an investment option for their charitable contributions that has a strategy similar to an endowment," said Sarah C. Libbey, president of the Charitable Gift Fund. "Our donors want a way to leave a legacy to their favorite charities as well as to future generations. The Charitable Legacy Pool will help satisfy that demand."

The Fidelity Charitable Gift Fund was established by Fidelity Investments^® in 1991. The purpose of the Gift Fund is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. As of June 30, 2008, more than 52,000 donors have recommended grants totaling more than $8 billion to over 122,000 non-profit organizations nationwide since the Gift Fund's inception. For more information on Fidelity Charitable Gift Fund, visit www.charitablegift.org.

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The Fidelity Charitable Gift Fund ("Fund") is an independent public charity and donor-advised fund. Various Fidelity companies provide non-discretionary investment management and administrative services to the Fund. The Charitable Gift Fund logo is a service mark of the Trustees of the Fidelity Investments Charitable Gift Fund. Fidelity is a registered service mark of FMR LLC and used by the Fund under license.