New Manager Appointments

Here are some
new manager appointments hot off the presses from Fidelity. There are no
changes to my Buy-Hold-Sell ratings based on these manager changes. Be sure to
check out the October issue of Fidelity Investor for my interview with Eddie
Yoon.

Monty Kori has been named portfolio manager for the
Industrials sleeve of Fidelity Series All Sector Equity Fund,
succeeding John Avery. Monty will continue his role on the Mid Cap Stock
Selector team as well. Monty has been a valued member of the Cyclicals teams
since 2006, and he brings strong analytical skills and proven performance to
his new role. John will retain his management responsibilities for Fidelity
Fund and the Industrials sleeves of Fidelity Balanced Fund, Fidelity Advisor
Balanced Fund and VIP Contrafund.

Brian Lempel has been named portfolio manager for the
Information Technology sleeve of Fidelity Series All Sector Equity Fund,
succeeding Adam Hetnarski. Brian will continue managing the Select Software
& Computers portfolio and maintain large-cap software research coverage for
our funds. In addition to focus and passion for the Technology sector, Brian
brings proven portfolio results to the team. Adam will retain his management
responsibilities for the Information Technology sleeves of Fidelity Balanced
Fund, FA Balanced Fund and VIP Contrafund.

Eddie Yoon has been named portfolio manager for the
Health Care sleeve of Fidelity Advisor Stock Selector Mid Cap
Fund
, Fidelity Advisor Growth
Strategies Fund
and Fidelity Mid Cap
Growth Fund
, succeeding Patrick Venanzi. Eddie will continue managing the
Select Health Care Portfolio (including Advisor and VIP funds) and Select
Medical Equipment and Systems Portfolio. Eddie is a proven portfolio manager
and expert throughout the Health Care sector. Patrick will continue to focus on
his other portfolio management assignments, which include Fidelity Small Cap
Growth Fund and the Health Care sleeves of Fidelity Small Cap Opportunities
Fund and Fidelity Small Cap Stock Selector Fund.