Company Press Release

BOSTON, July 1, 2008 -- Fidelity Investments recently named Daniel Petrozzo, former co-global chief information officer and head of Enterprise Infrastructure for Morgan Stanley, as chief information officer.

In his new role, Petrozzo will lead the overall enterprise technology strategy and oversee the delivery and support of all internal and customer-facing technologies. Petrozzo will report to Marvin Adams, president of Fidelity Shared Services, which is comprised of Fidelity Technology Group, Fidelity Enterprise Operations, Fidelity Security, Fidelity Consulting Group, and Fidelity Real Estate Company.

As Morgan Stanley's co-global CIO, Petrozzo managed Morgan Stanley's Information Technology personnel globally across all business units and as the Head of Enterprise Infrastructure was responsible for technology infrastructure across the company.

"Dan is a strong leader who has wide-ranging experience both in financial services and in the technology sector," said Adams. "Technology is a critical component to Fidelity's success and ensuring our ability to enhance our operational efficiencies, while offering a superior customer experience. Dan's proven expertise and ability to lead a dynamic IT organization will ensure Fidelity's position as a leading global financial services company."

Petrozzo has nearly 25 years of technology experience in both the applications and infrastructure areas, and has held positions with technology and financial services companies including AT&T, StorageApps and Deutsche Bank.

Ronald E. DePoalo, former managing director and chief technology officer for Merrill Lynch Global Wealth Management, was hired as chief information officer of Fidelity Institutional Products Group. DePoalo will report to Michael K. Clark, president of Fidelity Institutional Products Group, and Petrozzo.

Fidelity Institutional Products Group is comprised of Fidelity Institutional Services Company, Fidelity Institutional Wealth Services, National Financial and Fidelity Capital Markets Services.

In his new role, DePoalo will be responsible for the global focus and leadership of Fidelity Institutional Products Group's internal and client-facing technology management and development, including such current projects as the $50 million Fidelity WealthCentralSM platform, an innovative wealth management workstation for Fidelity Institutional Wealth Services' more than 3,400 Registered Investment Advisor firm clients.

"Ron is a visionary leader who has proven expertise in brokerage technology across numerous areas of the industry, including capital markets and custody and transaction services," said Clark. "As our institutional clients rely on Fidelity more and more to provide them access to leading-edge technologies, Ron's background is perfectly suited to help us advance our capabilities to ensure we are delivering our clients the solutions they need to help them operate more efficiently and gain competitive advantage."

DePoalo comes to Fidelity from Merrill Lynch, where he most recently served as managing director and chief technology officer for Global Wealth Management. In this position, DePoalo led Merrill Lynch's technology personnel globally for all Global Wealth Management Business Units.

DePoalo began his career at Merrill Lynch more than 20 years ago and over the years was promoted into roles of increasing responsibility and leadership in Fixed Income, Equities, Transaction and Custody Services, Research, and Investment Banking. In addition to holding a number of global roles, he also spent two years in London. In 2007, DePoalo was awarded CIO Magazine's 100 plus award. He also maintained the No. 1 ranking in technology by the annual registered rep survey.

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of more than $3.4 trillion, including managed assets of more than $1.6 trillion as of May 31, 2008. Fidelity offers investment management, retirement planning, brokerage, and human resources and benefits outsourcing services to 24 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, the largest mutual fund supermarket and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.


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