BOSTON, May 11, 2005 -- Fidelity Investments today announced that the Public School Retirement System of the City of St. Louis has selected Fidelity Management Trust Company to manage $57.4 million in an international growth portfolio on behalf of its defined benefit pension plan.

The portfolio will be invested in Fidelity's International Growth discipline which seeks to outperform the MSCI EAFE (Net) Index by combining Fidelity's most attractive international stock picks with a bottom-up asset allocation process.

"We are extremely pleased that the Public School Retirement System of the City of St. Louis has selected Fidelity to manage this mandate as their non-U.S. equity allocation in their defined benefit plan," said Drew Lawton, chief executive officer and president, Fidelity Management Trust Company. "Over the last six months, we have seen an increasing number of defined benefit plan sponsors adding international equities to either increase their overall allocation, or add another level of diversification within their existing portfolio."

Fidelity Management Trust Company manages more than $100 billion for 450 institutional clients worldwide. The company offers institutional asset management for active and risk-controlled equity, fixed-income, international equity, and real estate, in addition to providing trust services and bundled solutions to its institutional clients.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $2.1 trillion, including managed assets of $1.1 trillion as of March 31, 2005. Fidelity offers investment management, retirement planning, brokerage, payroll, health and welfare benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is one of the largest mutual fund companies in the United States, a leading 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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The International Growth Discipline is not a mutual fund and is managed by Fidelity Management Trust Company.

The Morgan Stanley Capital International Europe, Australasia and Far East (MSCI EAFE) Index is a market capitalization-weighted index of equity securities of companies domiciled in various countries. The Index is designed to represent the performance of developed stock markets outside the United States and Canada and excludes certain market segments unavailable to U.S. based investors.

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

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