Fidelity Shuffles Bond, Sector Fund Managers

Mark Sommer has been named portfolio manager of the $1.7-billion Fidelity Spartan Sht Inter Municipal Income (FSTFX), succeeding Thompson. Sommer will continue to manage Fidelity Spartan NY Municipal Income (FTFMX), Fidelity Spartan NJ Municipal Income (FNJHX), Fidelity Spartan CT Municipal Income (FICNX), Fidelity Spartan MD Municipal Income (SMDMX) and Fidelity Spartan PA Municipal Income (FPXTX), all of which he has managed since June 2002.

In addition, Fidelity announced changes on its select portfolio stock funds.

Pratima Abichandani has been named manager of the $197.8-million Fidelity Select Energy (FSENX) and the $27.1-million Fidelity Select Natural Resources (FNARX), succeeding John R. Porter III.

Abichandani also will serve as sector leader of the natural resources equity research group. He previously managed the Fidelity Select Cyclical Industries (FCYIX) and Fidelity Select Medical Delivery (FSHCX).

In addition, Kelly S. Cardwell has been named portfolio manager of $647.9-million Fidelity Select Software & Computer (FSCSX), succeeding Christian Zann, who will continue to manage portfolios at Fidelity. Cardwell has been managing the $21.5-million Fidelity Select Automotive (FSAVX) since 2001, which will now be taken over by Robert S. Bao.

Bao will continue to manage Fidelity Select Enviromental Services (FSLEX), which he has managed since March 2002, and Fidelity Select Construction & Housing (FSHOX), which he has managed since September 2002.