BOSTON, September 8, 2004 -- Fidelity Management Trust Company today announced it has been selected by Tampa, Florida-based Shriners Hospitals for Children to manage approximately $340 million in a fixed-income portfolio on behalf of its Endowment Fund. Callan Associates assisted in the selection process.

The portfolio will be invested in Fidelity's Broad Market Duration discipline, which seeks to generate returns that exceed the Lehman Brothers Aggregate Bond Index through investments in investment-grade fixed-income securities.

Fidelity manages more than $21 billion in institutional fixed-income assets for defined benefit plans, including approximately $15 billion in investment grade fixed income assets, on behalf of 79 clients.¹

Fidelity Management Trust Company manages $89 billion for 527 institutional clients worldwide, including corporate and public retirement funds, endowments, foundations and other institutional investors. The company offers institutional asset management for active and risk-controlled equity, fixed income, international equity, real estate and alternative disciplines such as market neutral. The company is affiliated with Fidelity Employer Services Company, which provides benefits and human resources administration, workforce effectiveness, payroll solutions and stock plan services to over 18 million employees in the U.S. as of July 31, 2004. Additionally, through its HR Access acquisition, Fidelity provides HR and payroll applications for about 12 million employees in Europe.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.9 trillion, including managed assets of $1.0 trillion as of July 31, 2004. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 21 million individuals and institutions as well as through 5,500 financial intermediaries. 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.

383408