Manager Changes for China Region and Advisor Emerging Asia

There were some manager changes that took place yesterday. Neither of these changes affect our Buy-Hold-Sell ratings on these funds.

Effective January 19, 2010:

Joseph C.P. Tse has been named portfolio manager of Fidelity China Region Fund (with retail and Advisor share classes), succeeding Wilson Wong. For the past 15 years, Tse has been managing Asia-based equity portfolios available exclusively to overseas investors. He also previously managed Fidelity China Region Fund from 1995 to 2003. Tse joined Fidelity in 1990 as an analyst covering Hong Kong and Chinese equities. In 1993, he became an assistant portfolio manager of several regional equity funds. From 1994 to 1996, Tse was director of research for FIL Limited in Hong Kong, and was responsible for managing the Hong Kong research team covering Asia (ex Japan). Prior to joining Fidelity, Tse was a consultant for Peat Marwick Management Consultants Limited in Hong Kong from 1989 to 1990. He also was an assistant manager for corporate banking and finance for the Hong Kong office of Chase Manhattan Bank from 1987 to 1989.

Colin Chickles has been named portfolio manager of Fidelity Advisor Emerging Asia Fund, succeeding Kevin Chang. Chickles has been managing Fidelity Southeast Asia Fund since October 2009, and has followed emerging markets equities as a portfolio manager and analyst since joining Fidelity in 1996. From 1996 to 1999, Chickles conducted quantitative asset allocation research on emerging markets and other international equities before moving to Hong Kong in 1999 to follow emerging markets companies exclusively using both quantitative and fundamental research. He joined Fidelity’s Boston-based emerging markets group in 2001, and assumed responsibility for fundamental research on emerging markets financial, real estate and small-capitalization stocks. Chickles co-managed Fidelity Series Emerging Markets Fund from 2008 to August 2009, at which time he returned to Hong Kong. Prior to joining Fidelity, Chickles was an engineer and scientist for McDonnell Douglas Space Systems Company.