10/3/2008 - Fidelity's Strength and Financial Stability

As we work with you, we want to reassure you that, despite recent events in the securities markets, Fidelity Institutional Wealth Services (Fidelity), through the broker dealer Fidelity Brokerage Services LLC, retains the strength and stability you have known Fidelity for in the past.

We would like to share with you some information about Fidelity, and the financial strength of the firm, which may address concerns that you might have.

Strong financial condition: With a business encompassing a range of diversified business lines, one of the greatest assets all Fidelity businesses have is the strength and stability of the parent company, Fidelity Investments, a strong and growing company that achieved strong operating results in 2007. Revenues of Fidelity's parent company, FMR LLC, were a record $14.9 billion, 16% higher than 2006 and income before taxes totaled $2.2 billion, which was also higher than 2006.

Trading on behalf of clients: The decline of the mortgage market and other credit markets in recent months has led to losses in certain types of fixed income securities and has contributed to the difficulties faced by some financial firms. In contrast to these firms, Fidelity does not pursue its own trading strategies, such as taking a large position or maintaining large inventories of particular fixed income securities; rather, it, executes trades at the direction of retail and institutional brokerage clients. Similarly, Fidelity's fund operations trade on behalf the company's mutual funds.

Customer asset protection: Fidelity Brokerage Services LLC is a member of the Securities Investor Protection Corporation (SIPC). Brokerage accounts maintained with Fidelity are protected by SIPC. SIPC protects brokerage accounts of each customer up to $500,000 in securities, including a limit of $100,000 on claims for cash awaiting reinvestment. Money market funds held in a brokerage account are considered securities.

Additional protection: In addition to SPIC protection, Fidelity provides additional coverage for its customers, which offers asset protection for total net equity (cash and securities) in an account. This supplemental coverage, called "excess SIPC coverage", is not subject to a dollar limitation for any one account or for the firm. For more information about Fidelity's excess SIPC coverage, visit www.capcoexcess.com.

We know that many of you are concerned about the current situation and market volatility is to be expected. However, we have always communicated the importance of maintaining perspective during volatile markets and investing for the long-term. Fidelity is among the largest asset management companies in the industry and a company that investors can feel confident doing business with, regardless of market conditions.

As always, we thank you for your trust in us, particularly during such challenging times.