Fidelity Brokerage Services, Inc. Announces 43% Increase In Number Of Accounts Trading Online.

BOSTON--(BUSINESS WIRE)--Nov. 25, 1997--Fidelity Brokerage Services, Inc. announced today that it has seen a 43 percent increase in the number of accounts using its online trading services since reducing online stock commissions for active traders to as low as $14.95.

"These results support our premise that investors are looking for the best value," said Robert Mazzarella, president, Fidelity Brokerage Services, Inc. "Investors are no longer defining value based on price alone but on a number of criteria, including a firm's reputation, products, service and access to investment information. Fidelity delivers on all counts by offering a comprehensive package that provides investors access to a full suite of products and services usually expected from a full-service broker, at discount broker prices."

The new $14.95 commission schedule applies to qualifying accounts of active traders who place trades for stocks online through www.fidelity.com or through Fidelity On-line Xpress+ trading software. Active traders are those customers who make at least 36 stock, bond or option trades per year and maintain a minimum balance of $20,000.

For customers who trade less than 36 times per year, a new commission rate starting at $19.95 for online stock trades, became effective on October 30 (1). This price cut represents over a 30 percent discount from the previous $28.95 rate. The advertising campaign supporting this offer launched on November 13.

"Although we have only just announced the availability of the $19.95 offer for our customers who trade less than 36 times a year, we anticipate as great a response as was generated through the $14.95 announcement with our active trader customers," said Mazzarella.

About Fidelity Brokerage Services, Inc.

Fidelity Brokerage Services, Inc. offers some of the most comprehensive and competitively priced discount brokerage services in the industry. These include access to IPOs and other public offerings as well as a full range of individual securities, FundsNetwork with more than 3,300 funds; substantial commission savings on all trading services; low margin rates; access to extensive independent research; a variety of cash management services; and consolidated statement reporting. Customers can choose from several electronic channels to conduct business with Fidelity including www.fidelity.com; Fidelity On-line Xpress+ trading software; automated telephone service or through a telephone representative.

About Fidelity Investments

Fidelity Investments is the nation's largest mutual fund company and one of the leading providers of financial services. Fidelity offers investment management, retirement, brokerage and shareholder services directly to individuals and institutions, and through financial intermediaries. The firm also is the No. 1 provider of 401(k) retirement savings plans, the second largest discount brokerage firm and the third largest provider of 403(b) retirement plans for not-for-profit institutions in the United States. At October 31, 1997, Fidelity had total managed assets of $583.8 billion.

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For more complete information on any fund available through Fidelity, including charges and expenses, please call 1-800-544-8888 for a free prospectus. Read it carefully before you invest or send money.

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(1) For stock trades placed online via the Fidelity Web Xpress or Fidelity On-line Xpress+ in qualifying accounts of active traders, the base rate is $14.95. The base rate for stock trades placed online for other retail customers is $19.95. For equity trades up to 1000 shares, pay the base rate. For trades between 1,001 and 4,999, pay the base rate plus $.03 for each share over 1,000. For trades of 5,000 shares or more, pay the base rate plus $.02 for each share over 1,000. For shares priced under $1, pay the lesser of the rate as calculated above or 3% of principal, subject to a minimum commission equal to the base rate. There is a $3 premium per trade for limit and stop orders. The premium is waived until 12/1/97 for Spartan Active Traders and does not apply to Spartan Gold Circle customers. Active traders refer to those customers whose accounts qualify for Spartan Trader pricing or Spartan Gold Circle pricing. To qualify, customers must make at least 36 or 72 stock, bond or option trades per year respectively, and maintain a minimum account balance of $20,000.

Fidelity Brokerage Services, Inc. Member NYSE, SIPC.

CONTACT: Fidelity Investments

Corporate Communications, 617/563-5800