COMPANY RELEASE

Fidelity Investments® Adds to its Line-Up of Stock Selector Funds
Fidelity Stock Selector Mid Cap Fund1 Assembles Best Mid-Cap Ideas From Dedicated Sector PM Specialists Leveraging Fidelity’s Global Research

BOSTON -- Fidelity Investments®, a leading global asset management firm, today announced the launch of Fidelity Stock Selector Mid Cap Fund, available directly to investors. With the new offering, retail investors now have access to all of the Stock Selector strategies. Fidelity manages more than $80 billion in Stock Selector funds, including $1.9 billion2 in Fidelity Advisor Stock Selector Mid Cap Fund, available through financial advisors.

Fidelity Stock Selector Mid Cap Fund seeks long-term growth of capital and invests at least 80 percent of its assets in stocks of companies between large and small capitalizations3. The fund may invest in domestic and foreign issuers and can invest in either “growth” stocks or “value” stocks or both.

“The Stock Selector approach is an extension of Fidelity’s strength and heritage in stock picking,” said Joseph DeSantis, chief investment officer, Fidelity’s Equity Group. “Harnessing the work of the more than 700 Fidelity investment professionals located around the globe, in combination with their deep sector specific expertise, the eight portfolio managers on Fidelity Stock Selector Mid Cap Fund, focus their efforts on constructing more concentrated security exposure in each sector they manage. The Stock Selector investment process largely eliminates the influence of sector selection and market timing in the fund’s investment return profile, which enables some of Fidelity’s best stock pickers to use their skills to drive performance and have stock selection drive the fund’s risk.”

The Fidelity Stock Selector funds use groups of sector managers who invest each fund’s assets across sub-portfolios based on the 10 sectors in the Global Industry Classification Standard (GICS) scheme, such as health care, technology and energy, and in some cases sub-industries of the GICS. Each portfolio manager is responsible for selecting securities within his/her respective sector sub-portfolio(s).

“While many investors may build a portfolio with large- and small-cap stocks, they may be missing direct exposure to the mid-cap section of the market. With the addition of a Stock Selector fund focusing on the mid-cap market segment, investors now have a focused selection of this investment opportunity designed to meet their diversification needs,” added DeSantis.

Fidelity recently analyzed the track record of mid-cap stocks and found that on a risk-adjusted basis, mid-cap stocks (those with $1 billion to $10 billion in market capitalization) have outperformed their small- and large-cap counterparts over the last 20 years. The analysis also indicated that this history of outperformance, in many cases, could continue. For example, as shown in the chart below, the earnings growth for mid-cap stocks was at least as strong as their price appreciation, and sometimes faster. This is one indicator that the performance trend could be sustainable.

Earnings growth has driven returns 

Fidelity Stock Selector Mid Cap Fund uses a sector neutral approach compared to the S&P MidCap 400 Index, meaning that sectors are not significantly over? or under?weighted relative to the sector weightings of the index.

With an overall strategy emphasizing stock picking in their respective sectors, the managers who currently manage Fidelity Advisor Stock Selector Mid Cap Fund will also manage the assets of the retail class of the fund. These managers include:

• Monty Kori, Industrials and Materials
• Rayna Lesser, Telecom Services and Information Technology
• Shadman Riaz, Energy
• Gordon Scott, Consumer Staples and Consumer Discretionary
• Douglas Simmons, Utilities
• Pierre Sorel, Financials
• Patrick Venanzi, Health Care
• Samuel Wald, REITs, an industry group of Financials.

Kori joined Fidelity’s equity research group in 2006 and was responsible for covering exchanges and discount brokers within the financials group. In 2008, he started to cover the industrials sector and currently manages the industrials and materials sub-portfolios for Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund. Lesser joined Fidelity’s equity research group in 2005 and currently co-manages sector sub-portfolios for Fidelity Series Small Cap Opportunities Fund, Fidelity Stock Selector Small Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Low-Priced Stock Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund.

Riaz joined Fidelity in 2001 and has followed a number of sectors including energy and energy services companies. He currently co-manages Fidelity Series Small Cap Opportunities Fund, Fidelity Stock Selector Small Cap Fund, Fidelity Value Fund, Fidelity Advisor Value Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Low-Priced Stock Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund.

Scott joined Fidelity’s equity research group in 2005 and has followed a diverse group of small- and mid-cap transportation, machinery and rental equipment companies. He currently manages Select Consumer Discretionary Portfolio, Fidelity Advisor Consumer Discretionary Fund, VIP Consumer Discretionary Portfolio and Fidelity Consumer Discretionary Central Fund. He also co-manages Fidelity Stock Selector All Cap Fund, Fidelity Advisor Stock Selector All Cap Fund and Fidelity Series Broad Market Opportunities Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund.

Simmons joined Fidelity in 2003 with significant experience in the power and utilities sector and started covering environmental and electric and gas utility stocks. He currently manages Fidelity Telecom and Utilities Fund, Select Utilities Portfolio, Fidelity Advisor Utilities Fund and VIP Utilities Portfolio. In addition, he co-manages VIP Contrafund Portfolio, Fidelity Series Broad Market Opportunities Fund, Fidelity Stock Selector All Cap Fund, Fidelity Advisor Stock Selector All Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund.

Sorel joined Fidelity in 1998 as an analyst covering the leisure, automobile and banking industries in Europe for Fidelity International Limited (FIL). He currently co-manages Fidelity Balanced Fund, Fidelity Advisor Balanced Fund, VIP Contrafund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Series All-Sector Equity Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund.

Venanzi joined Fidelity’s equity research group in 2001 covering retail and other consumer stocks. He currently manages Fidelity Small Cap Growth Fund, and co-manages Fidelity Series Small Cap Opportunities Fund, Fidelity Stock Selector Small Cap Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund. Wald joined Fidelity in 1996 in the Equity Research Group and has been working within the REIT group for most of his Fidelity career. He currently manages Fidelity Advisor Real Estate Fund, VIP Real Estate Portfolio and Fidelity Series Real Estate Equity Fund. He also manages the real estate investment trust (REIT) sub-portfolios of Fidelity Strategic Dividend and Income Fund, Fidelity Advisor Strategic Dividend and Income Fund, Fidelity Advisor Stock Selector Mid Cap Fund, Fidelity Advisor Growth Strategies Fund and Fidelity Mid Cap Growth Fund, and the real estate equities sub-portfolio of Fidelity Strategic Real Return Fund.

Investors can learn more about Fidelity Stock Selector Mid Cap Fund by visiting Fidelity.com. Financial advisors can get more information about Fidelity Advisor Stock Selector Mid Cap Fund by visiting Fidelity Financial Advisor Solutions’ client web site (advisor.fidelity.com).

About Fidelity Investments

Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.7 trillion, including managed assets of $1.6 trillion, as of April 30, 2012. 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.