Company Announcement

New Portfolio Manager Appointments
Effective September 13, 2011:

Jeffrey S. Feingold has been named portfolio manager of Fidelity® Magellan® Fund (FMAGX), succeeding Harry Lange. Feingold will continue to manage Fidelity® Trend Fund, Fidelity® Large Cap Growth Fund (with retail and Advisor share classes), Fidelity® Advisor Strategic Growth Fund and Fidelity® VIP Growth Stock Portfolio. He joined Fidelity in 1997 as an equity analyst following the footwear, apparel and textile industries. Feingold managed Fidelity's Select Defense and Aerospace Portfolio from 1998 to 2001 and Select Air Transportation Portfolio from 2000 to 2001. He managed Fidelity's Select Home Finance Portfolio, Select Financial Services Portfolio, Fidelity® Advisor Financial Services Fund, VIP Financial Services Portfolio and served as sector leader of Fidelity's financial services equity research group from 2001 to 2004. Feingold then served as co-director of Research and managing director of Research from 2004 through 2006. He managed the U.S. Equity portion of the Fidelity® Global Balanced Fund from 2004 to 2007 and Fidelity® Worldwide Fund from 2006 to 2007. Feingold assumed responsibility for the Fidelity® Trend Fund, Fidelity® Advisor Strategic Growth Fund and Fidelity® VIP Growth Stock Portfolio in 2007. He began managing Fidelity® Large Cap Growth Fund in 2009.