Despite the Economy, Donors Continued to Support
Record Number of Non-Profits

BOSTON, January 26, 2009 - The Fidelity ^®Charitable Gift Fund ("Gift Fund") today announced a successful year of grant-making in 2008, as its donor-recommended grants to charity totaled $1.08 billion. Despite continued economic uncertainty, the Gift Fund's donors supported more than 55,000 nonprofit organizations with over 293,000 grants, an increase of 2% in grants from 2007. In December, the Gift Fund -- the nation's largest donor advised fund and third largest public charity¹ - also issued the 2 millionth grant since its founding in 1991.

"Last year was a time of extraordinary economic challenges for our nation," said Sarah C. Libbey, president of the Fidelity Charitable Gift Fund. "Market volatility impacted individuals and institutions while at the same time, non-profits faced increasing demand for their services as they attempted to support their local communities," Libbey said. "Our donors did not waver in their commitment to help those in need. Their continued philanthropic efforts reinforced how donor-advised funds serve as long-term giving vehicles by ensuring that charitable dollars are available in good times and bad."

Reflective of a very weak economy that deteriorated further during the fourth quarter and one of the worst stock markets in history, incoming contributions to the Gift Fund in 2008 were down 43 percent to $1.05 billion from $1.85 billion in 2007.

"As 2009 unfolds, we remain optimistic," said Libbey. "Americans historically have assisted those in need, even in the toughest of economic environments. We think donor advised funds will continue to grow in popularity as a simple and trustworthy vehicle that provides immediate tax deductions to donors as well as the freedom to thoughtfully recommend grants to non-profits that align with their philanthropic goals."

Key Highlights of 2008

Flexibility and innovation were two of the hallmarks of the Gift Fund in 2008. Below are some key highlights from the year.

•		The Gift Fund introduced the Gift4GivingSM program, an eGift designed to introduce philanthropy to the friends, family or colleagues of donors. When recipients receive a Gift4Giving of $50 to $5,000, they can recommend which charities should receive the grant. The money comes out of the donor's Giving Account®, a donor-advised fund.
•		Last fall, in recognition of the growing pressure on the economy, the Gift Fund temporarily lowered its minimum grant amount from $100 to $50. This move encouraged donors to broaden their charitable support and consider causes that they had not supported before, and gave donors the option to scale back the amount of a grant if necessary.
•		The Gift Fund launched the Charitable Legacy Pool, an investment vehicle for certain donors who are looking to implement a charitable giving strategy with a long-term investment approach similar to that of an endowment. The objective of the pool is to allow for consistent annual payouts to charities while preserving the original contributions to the pool.

About Fidelity Charitable Gift Fund

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 Dec. 31, 2008, more than 55,000 donors have recommended grants totaling more than $9 billion to over 129,000 nonprofit organizations nationwide since the Gift Fund's inception.

¹ The Philanthropy 400, The Chronicle of Philanthropy, October 30, 2008 (based on contributions from individuals, foundations and corporations).

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The Fidelity Charitable Gift Fund ("Gift Fund") is an independent public charity with a donor advised fund program. Various Fidelity companies provide non-discretionary investment management and administrative services to the Gift Fund. The Charitable Gift Fund logo and Gift4Giving are service marks, and Giving Account is a registered service mark, of the Trustees of the Fidelity Investments^® Charitable Gift Fund. Fidelity and Fidelity Investments are registered service marks of FMR LLC and used by the Gift Fund under license.