Company Press Release

BOSTON, April 21, 2010 – Fidelity Investments® announced today that Karthik Ramanathan has joined the firm in the newly created position of senior vice president and director of Bonds, effective June 1, 2010. Ramanathan, who will report directly to Bond Group President Christopher Sullivan, has served in high-profile roles within the U.S. Treasury Department since 2005, and in previous leadership positions in the investment management industry.

"We’re excited to welcome Karthik to Fidelity to assume this important role,” said Sullivan. “Karthik’s background, as well as his skills and talents, fit perfectly with our desire to strengthen the connection between our bond management strategies and our clients’ needs. In addition to playing an integral role in developing product positioning and strategy, Karthik will serve as the external voice of our organization, articulating our extensive investment capabilities to existing and potential clients. He’ll be working closely with all of the Fidelity channels that distribute our bond products and strategies and, in particular, will have a keen eye toward further expanding our institutional fixed-income business through Pyramis Global Advisors."

Since 2008, Ramanathan has served as Acting Assistant Secretary for Financial Markets for the U.S. Treasury Department. In that role, he oversaw all matters involving Treasury financing, public debt management, Federal regulation of financial markets and related economic matters including regulatory issues in the Government securities, cash, repurchase, derivatives and futures markets. From 2005 to 2008, Ramanathan was Director, Office of Debt Management for the Treasury Department, and directed the issuance of over $8 trillion in Treasury securities across a mixture of bills, notes, bonds and inflation-indexed notes.

Previously, Ramanthan spent nearly 10 years at Goldman, Sachs & Co. in New York, most recently serving as Vice President of the Foreign Exchange Division. In that role, he managed an emerging market currency portfolio and worked closely with the company’s international sales team by advising and exchanging investment ideas with clients. During his tenure at Goldman Sachs, Ramanthan also served as the Foreign Exchange Division’s first Chief of Staff and Business Unit Manager, as an Associate for the Foreign Exchange Division in London, and as an Investment Banker in the Mergers and Acquisitions Department.

Fidelity Investments is one of the world's largest providers of financial services, with assets under administration of more than $3.3 trillion, including managed assets of $1.5 trillion, as of March 31, 2010. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com