As one of the world's leading providers of Mutual funds, Fidelity has helped millions of people realize their financial goals. Fidelity mutual funds are backed by more than 60 years of investment management expertise as well as one of the largest research staffs in the industry.

Fidelity Investments Institutional Services Company provides investment management services through investment professionals at financial institutions nationwide. The company offers over 100 Fidelity Advisor Funds to meet the core investment needs of most investors. Fidelity Advisor also offers 529 College Savings plans and workplace 401k retirement plans.

Mutual Funds fall into the following disciplines:

• International
• Domestic Equity
• Asset Allocation Funds
• Fixed Income
  • Taxable Income Funds
  • Municipal Income Funds

Management Philosophy
Fidelity has consistently maintained its bottom-up investment philosophy, the cornerstone of which is fundamental research. 80% of fund manager decisions are based on our proprietary research, which is made up of three elements:

• Analysis
• Technology
• Face to face contact

The fund manager is the center of the team and has access to all of Fidelity Management & Research Company (FMR Co) resources, including global proprietary research, company visits and on-line information systems. The managers also receive specific recommendations from analysts and ideas from other fund managers in their investment discipline group. In some ways the fund manager is like a football quarterback; making the plays but backed up by all of the resources of a team, located around the globe.

Fidelity's fund management is driven by:

• The belief that active management adds value
• A commitment to proprietary research
• A bottom up approach to stock selection
• Developing talent inside the Fidelity system
• Access to resources
• Reliance on decisions made by talented individuals within a disciplined team context
• Individual accountability for performance

Fidelity Management & Research Company (FMR Co.) is the underlying strength of Fidelity Advisor Funds. It offers more than 60 years of investment management expertise, and with its international affiliate, FIL Limited, employs one of the largest staffs of portfolio managers, research professionals, and traders in the industry — more than 1000 in total.*

Each member of this staff is armed with extensive resources to search and uncover new investment opportunities. Further, they are backed by a worldwide network of research resources providing constant market and company information.

*Source: FMR Co & FIL Limited as of 9/30/08. Data is unaudited.

The above information was provided by Fidelity Investments Institutional Services Company, Inc.