Manager changes for VIP Contrafund, Fidelity Fifty, and others

Please note the following Manager appointments, effective March 7, 2011:

Peter Saperstone has been named co-portfolio manager of VIP Contrafund, Series All-Sector Equity Fund and of the equity portions of Balanced Fund and Advisor Balanced Fund, joining existing portfolio managers John Avery, Matthew Friedman, Adam Hetnarski, Steven Kaye, Robert Lee, Douglas Simmons, Pierre Sorel, Nathan Strik, and Robert Stansky. Saperstone will manage the consumer discretionary sub-portfolios of those funds as part of the Stock Selector Large Cap Group (previously known as the Multi-manager Group) succeeding John D. Roth. All the fund managers will continue with their other current responsibilities.

Stephen M. DuFour has been named portfolio manager of Fidelity Fifty Fund, succeeding Saperstone. DuFour will continue to manage Fidelity Focused Stock Fund.

Monty A. Kori, Pierre Sorel, Douglas Simmons, Shadman Riaz, Gordon C. Scott, Michael Valentine, Patrick L. Venanzi, and Samuel J. Wald have been named co-portfolio managers of Fidelity Advisor(r) Mid Cap Fund, also succeeding Saperstone. These portfolio managers will be responsible for one or more industry sectors of the portfolio (Valentine/ Telecom Services and Information Technology; Kori/Industrials and Materials); Sorel/ Financials; Simmons/Utilities; Riaz/Energy; Scott/ Consumer Staples and Consumer Discretionary; Venanzi/Health Care; and Wald/REITs). All the fund managers will continue with their other current responsibilities.