BOSTON, February 3, 2006 - Fidelity Investments today announced the appointment of Jeffrey W. (Jeff) Smith as executive vice president, sales and consultant relations for Fidelity Management Trust Company (FMTC), reporting to Drew E. Lawton, president and chief executive officer of FMTC. In this capacity, he will oversee all sales, consultant relations, and related activities for the company's markets.

Prior to joining Fidelity, Smith was managing director and co-head of institutional business at UBS Global Asset Management, Chicago, where he also served as president of UBS Asset Management Trust Company. A member of the Chartered Financial Analyst Institute, Smith has a B.S. in economics from Wheaton College and a MBA from the University of Chicago.

"Jeff brings a wealth of institutional market experience to Fidelity, especially in the area of business development and client and consultant relations," Lawton said. "His business knowledge and leadership skills will enhance the talented team of professionals that we have been fortunate to assemble over the last several years at Fidelity Management Trust Company."

FMTC was established in 1981 to provide investment management services to corporate and public retirement funds, endowments, foundations, and other institutional investors worldwide. Today, the firm currently manages over $100 billion for more than 500 institutional clients. FMTC provides Defined Benefit retirement products, trustee services, and bundled DB programs to institutional investors.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $2.4 trillion, including managed assets of more than $1.2 trillion as of December 31, 2005. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to more than 21 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, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

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