25-Year Prime Brokerage Veteran
To Help Strengthen Growing Business

BOSTON, June 2, 2009 -- Fidelity Capital Markets, the institutional trading division of Fidelity Investments^®, today named Thomas Tesauro as executive vice president of its Prime Services business.

In this new role, Tesauro will be responsible for developing and implementing the strategic business plan, as well as managing the day-to-day operations, for Fidelity's prime brokerage business. Tesauro has more than 25 years of experience in the prime brokerage and equity finance markets that includes former leadership roles at Citigroup and Goldman Sachs. He will report to Mark Haggerty, president of Fidelity Capital Markets. James Coughlin, senior vice president and head of Prime Sales, and Stephen Richard, senior vice president and head of Prime Account and Product Management, will report to Tesauro.

"Driven by unprecedented market volatility, and uncertainty surrounding many of the Street's traditional prime brokers, a growing number of hedge funds are shifting assets to strong, reputable firms like Fidelity," said Haggerty. "Tom will draw on his 25 years of experience working with hedge funds to help us successfully meet the needs of our growing client base."

Fidelity Prime Services handles securities lending, execution, financing, reporting, clearing and custody for sophisticated institutional investment managers, including hedge funds, who primarily employ long and short domestic equity trading strategies.

Before joining Fidelity, Tesauro was managing director at S3 Partners, a firm that provides specialized securities lending services to hedge funds. Prior to S3 Partners, Tesauro spent nearly 15 years at Citigroup and Smith Barney, where he most recently served as managing director and co-head of the company's Global Prime Finance business. Tesauro began his career at Goldman Sachs, where from 1989 to 1994 he managed the firm's Securities Lending business.

"Our Prime Services business is an important focus for Fidelity and Tom's appointment underscores our commitment to strengthening our position in this market," said Haggerty. "Tom will lead a very talented management team that will focus on ensuring our clients have access to the people and trading solutions they need to efficiently manage their sophisticated trading strategies."

About Fidelity Capital Markets

Fidelity Capital Markets (FCM) is the institutional trading division of Fidelity Investments providing trading, products and services to a wide array of clients and Fidelity businesses. FCM executes domestic and international equity securities including block and portfolio trading, listed options and foreign exchange. It also offers securities lending, commission management and transition management. FCM trades fixed-income in a wide range of taxable and tax-exempt securities and underwrites municipal and government agency debt. The company has its own distribution channel, Fidelity Prime Services^®, focused on servicing hedge funds and a full suite of Electronic Brokerage Trading Products, including proprietary algorithms and a crossing network, CrossStream^®. FCM offers all of its clients conflict-free¹ trading, execution excellence and personal service. For more information about Fidelity Capital Markets, please visit www.www.fidelityprime.com.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of nearly $2.7 trillion, including managed assets of $1.3 trillion as of April 30, 2009. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to over 20 million individuals and institutions as well as through 5,000 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.

¹Fidelity Capital Markets may engage in principal trading to facilitate customer order flow.

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Registered trademarks and service marks appearing herein are the property of FMR LLC. Fidelity Prime Services is a part of Fidelity Capital Markets, a division of National Financial Services LLC, Member NYSE, SIPC.