BOSTON, March 5, 2009 -- Fidelity Investments^® today announced record business results in 2008 for its suite of businesses serving broker/dealers, banks, insurers, registered investment advisors (RIAs) and other institutional clients. In 2008, Fidelity's intermediary businesses, which are part of its Institutional Products Group, achieved all-time highs in a number of areas including daily average commissionable trades, new breakaway brokers on its platform, equity order flow, prime brokerage and advisor-sold 401(k) plans.

Fidelity's Institutional Products Group, which includes Fidelity Institutional Wealth Services^® (IWS), Fidelity Investments Institutional Services Company, Inc., (FIIS) National Financial^®, Fidelity Family Office Services (FFOS) and Fidelity Capital Markets (FCM), had nearly $1.1 trillion in assets under administration at year end.

Among the record results in 2008, Fidelity achieved an all-time high in daily average commissionable trades, processing 241,000 trades per day for the year across its IWS, National Financial and FFOS businesses -- an 18 percent increase over 2007. Daily average commissionable trades reached their highest levels in company history in September and October at 259,000 and 314,000, respectively.

"Despite arguably one of the most volatile business environments in recent memory, we repeatedly demonstrated our ability to help intermediary clients navigate challenging financial markets," said Michael K. Clark, president, Fidelity Institutional Products Group. "Our ability in 2008 to achieve record trading volumes, equity order flow and institutional money market flows, among others, was a direct result of the trust our diverse base of clients placed in the strength and reputation of Fidelity.

"While 2009 will likely continue to be a challenging environment in financial services, our clients should know that Fidelity will continue to invest across its many businesses," Clark said. "Our goal is to provide clients with the best investment products, technology, trading tools and services needed to help grow their businesses more efficiently, competitively and profitably."

In addition to record trading volumes, Fidelity's intermediary businesses achieved a number of other strong results in 2008:

•		FIIS sold 702 new Fidelity Advisor 401(k) plans in 2008, up 36 percent from 2007, and reached a record 3,310 in total advisor 401(k) plans on the platform. Fidelity's Advisor 401(k) platform is offered through third-party advisors to small- and mid-sized companies.
•		FIIS saw its money market assets reach a company record $137 billion in 2008, up 44 percent from 2007.
•		IWS saw 102 breakaway brokers, some of whom also have hybrid business, select Fidelity as the custodian for their newly established RIA firms, nearly double the number attracted in 2007.
•		FCM's Prime Services® business realized strong results in a number of areas including a 127 percent increase in client assets and a 57 percent increase in net new clients.
•		FCM increased municipal, CD, corporate and Treasury par value traded by 29 percent over 2007. The company also participated in 420 municipal new issue deals in 2008, up 25 percent from 2007 -- a company record.
•		FCM's Equity group increased its institutional average daily order flow by 95 percent over 2007, while also handling a record 601 million shares in a single day.

The strong business results, along with the roll-out of several new, innovative technology, product and service announcements, made 2008 one of Fidelity's busiest years. Among highlights from 2008:

•		Strengthened the management team with the appointments of Charles G. Goldman as president of Institutional Platforms; Michael Durbin as president of IWS; Ed Orazem as president of FFOS; and Peter Cieszko as president of FIIS.
•		National Financial launched the National Financial Broker & Advisor CenterSM, a comprehensive multimedia portal designed to provide brokers and advisors working on National Financial's Streetscape® workstation exclusive access to a broad range of business-building and training resources.
•		IWS launched Fidelity WealthCentral®, the industry's first Web-based wealth management platform that helps independent advisors drive greater practice efficiencies by integrating key applications including portfolio management, customer relationship management (CRM), financial planning, and portfolio rebalancing and trading into a single offering. Advisors have the option of full integration or selecting only those capabilities that meet their specific practice needs.
•		IWS and National Financial launched HybridOneSM to help meet the distinct needs of firms and advisors that conduct both commission- and fee-based business.
•		IWS launched its enhanced Fidelity Practice Management ProgramSM, an industry-leading platform designed to provide RIAs with access to a comprehensive range of business resources that can help accelerate growth, streamline operations and manage risk.
•		FIIS enhanced its advisor Web site, advisor.fidelity.com, with the launch of a new comprehensive multimedia portal, the Insight Center. The new resource center provides advisors easy access to timely, actionable sales ideas, Fidelity research, and market analysis that can help them accelerate business growth. Kasina, an independent management consulting firm for the financial services industry, ranked advisor.fidelity.com as the No. 1 Web site for advisors in its "2008 Top 10 Web Sites for Financial Intermediaries" study.
•		FIIS launched the Advisor 130/30 Large Cap Fund, its first mutual fund to engage in "short" sales as well as "long" investments, fulfilling growing demand among individual investors and financial advisors for institutional-like investment options.
•		Fidelity Prime Services®, a business of FCM, integrated a new portfolio account system into its prime brokerage trading platform for institutional money managers, including hedge funds. The system provides clients access to real-time portfolio data and enhanced reporting capabilities. The company also expanded its electronic trading network so clients can leverage the combined liquidity of more than 30 trading destinations through DarkSweep®, Fidelity's dark aggregation trading strategy, and CrossStream®, the company's alternative trading system.

"We are in an unprecedented business environment that is rapidly transforming the financial services industry, and those firms which do not have all the pieces to serve these converging markets and new financial business models will be at a competitive disadvantage," said Clark. "We believe our combination of businesses is unmatched, and that we are uniquely positioned to offer our institutional and intermediary clients a wide variety of choice in how they want to do business with us -- something that is critical in a turbulent and changing business environment."

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of over $2.6 trillion, including managed assets of over $1.2 trillion as of December 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 Fidelity.com.

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

An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Short positions pose a risk because they lose value as a security's price increases; therefore, the loss on a short sale is theoretically unlimited. Leverage can increase market exposure and magnify investment risk.

Kasina is an independent management consulting firm and is not affiliated with Fidelity.

Trademarks and service marks appearing herein are the property of FMR LLC.

Fidelity Capital Markets is a division of National Financial Services LLC, Member NYSE, SIPC.

Clearing, custody or other brokerage services may be provided by National Financial Services LLC, or Fidelity Brokerage Services LLC, Members NYSE, SIPC.

Fidelity Brokerage Services LLC, Member NYSE, SIPC
300 Puritan Way, Marlborough, MA 01752

National Financial Services LLC, Member NYSE, SIPC
200 Seaport Blvd., Boston, MA 02210

Fidelity Investments Institutional Services Company, Inc.,
82 Devonshire Street, Boston, MA 02109