Fidelity Magellan Fund Reopens to New Investors
Fidelity Investments

For the first time in a decade, we've opened our Magellan fund to a new generation of investors. This is your chance to take advantage of:

 Smart Strategy

• Improved research network with over 900 investment professionals in 25 countries gives Portfolio Manager Harry Lange investment resources worldwide
• "Go anywhere" approach seeks capital-appreciation opportunities throughout the globe, in companies of all sizes

 Solid Returns

• Outperformed the S&P 500 over the last decade¹
• Returned an average of 18.4% per year since it's inception in 1963²
• During his tenure as fund manager, Harry Lange has delivered 33.8% returns vs. the S&P 500 benchmark of 27.71%³
• 4-star overall Morningstar rating*

 Low Fees

• No loads or transaction fees⁴
• Low expense ratio of .54% versus Lipper Growth Average
  of 1.35%⁵

Take advantage of this unique opportunity today: Call 1-866-458-9738, check your 401(k) plan, or learn more about Magellan.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.
*	The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar rating metrics as of 12/31/2007.
1	Outperformed the S&P over the last decade: Magellan performance = 6.31%, S&P 500 performance= 5.91%, Dates= 12/31/1997-12/31/2007.
2	Start date of Magellan — 5/2/1963. End date for the 18.4% per year performance # is 11/30/2007.
3	From October 31, 2005 to November 30, 2007
4	Other fees and expenses applicable to continued investment are described in the fund's current prospectus
5	Fund expense ratio as of 5/31/07, Lipper Avg based on most recent data available. Lipper, Inc. is a nationally recognized organization that provides performance information for mutual funds.
Before investing, consider the fund's investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus containing this information. Read it carefully.
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