Fidelity Investments® Announces New Fund Options for Fidelity Personal Retirement Annuity®

New Funds Broaden Investment Choice, Increase Opportunities for Tax-Efficiency within One of the Industry’s Lowest Priced Deferred Variable Annuities

BOSTON – Fidelity Investments®, the leader in helping Americans save for retirement1, today announced the addition of new investment options for purchase within its Fidelity Personal Retirement Annuity®2. The four new funds, available now to all investors, include: the BlackRock Global Allocation V.I. Fund, Franklin U.S. Government Fund, Templeton Global Bond Securities Fund, and PIMCO VIT CommodityRealReturn® Strategy Portfolio.

The Fidelity Personal Retirement Annuity is a low-cost, tax-efficient3 retirement savings product that offers a broad selection of investment options from Fidelity and other reputable providers. A key benefit of the product is tax-deferred savings, which can complement an investor’s retirement savings in 401(k)s and individual retirement accounts (IRA). With an annual annuity cost of 25 basis points (bps) for all new contracts with an initial purchase payment below $1 million, the product is one of the lowest priced deferred variable annuities in the industry4. Unlike most variable annuities, it is also sold without a sales charge or a surrender period. (Note: The product does not have a guaranteed minimum death benefit.)

“Fidelity research shows that working American households may experience a potential income drop of 28 percent in retirement5,” said Jeffrey K. Cimini, president of Fidelity Investments Life Insurance Company. “To help take control of their personal economy and avoid a potential income shortfall in retirement, investors should consider increasing their savings and using tax-deferred savings vehicles, such as the Fidelity Personal Retirement Annuity -- especially if they do not have a workplace plan and/or have maxed out other savings vehicles such as 401(k)s and IRAs.”

To help investors further diversify their assets based on their investment style, the new investment options offer a variety of investment objectives and strategies:

• BlackRock Global Allocation V.I. Fund – Managed by the team of Dennis Stattman, Dan Chamby and Aldo Roldan, Ph.D., the fund seeks to provide high total return through a fully managed investment policy using U.S. and foreign equity, debt and money market instruments, the combination of which will vary from time to time with respect to types of securities and markets in response to changing market and economic trends.

• Franklin U.S. Government Fund – Managed by Paul Varunok and Patrick Klein, Ph.D., the fund’s investment goal is income, and it normally invests at least 80 percent of its net assets in U.S. government securities. It generally invests primarily in fixed and variable rate mortgage-backed securities, a substantial amount of which is in securities issued by the Government National Mortgage Association (Ginnie Mae).

• Templeton Global Bond Securities Fund – Managed by Michael Hasenstab, Ph.D. and Sonal Desai, Ph.D., the funds seek high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. The fund normally invests at least 80 percent of its net assets in bonds, which include debt securities of any maturity, and at least 40 percent of its net assets in foreign securities. The fund also may invest a portion of its total assets in bonds rated below investment grade and invests a significant portion of its assets in emerging markets.

• PIMCO VIT CommodityRealReturn Strategy Portfolio – Managed by Mihir Worah, the CommodityRealReturn Strategy Portfolio is an actively managed portfolio that provides investors commodities exposure across various sectors including energy, industrial and precious metals, livestock and agriculture. The portfolio manages the exposure to commodity futures and collateralizes those positions with a portfolio of intermediate duration Treasury Inflation-Protection Securities. The Portfolio’s benchmark is the Dow Jones-UBS Commodity Total Return Index.


The four new investment options increase the total number of investment options available through the Fidelity Personal Retirement Annuity to 59. For additional guidance on annuity investing and more information about the Fidelity Personal Retirement Annuity, investors can call 800-544-3274, visit one of Fidelity’s 171 investor centers across the United States, or visit: www.fidelity.com/fpra or www.fidelity.com/annuities. Advisors can also call 800-910-7899 to speak directly with a Fidelity representative, or visit: advisor.fidelity.com.

About the Fidelity Personal Retirement Annuity
Launched in 2005, the Fidelity Personal Retirement Annuity offers investors nearly 60 investment options, including many 4- and 5-star Morningstar-rated funds6 and single fund solutions. It is sold directly to the consumer and, unlike many other annuities, contains no surrender charges. Because the product is directly sold with no loadiii, it can also fit well in a fee-based advisor sales model. Additional product benefits include:
• Tax deferred growth potential
• No IRS contribution limits
• Flexible withdrawal options7
• No mandatory withdrawals at age 70½
• Automatic rebalancing and dollar cost averaging8

About Fidelity Investments & Fidelity Investments Life Insurance Company (FILI)
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.7 trillion, including managed assets of $1.6 trillion, as of March 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.

Established in 1987, Fidelity Investments Life Insurance Company (FILI), and for New York residents, Empire Fidelity Investments Life Insurance Company®, New York, N.Y., develop and market their own insurance products, in addition to offering access to a number of insurance products from other from well-known carriers.9 FILI currently holds an A+ (Superior) from AM Best and an A+ (Strong) rating from Standard & Poor’s10.

Before investing, consider the investment objectives, risks, charges and expenses of the variable annuity and its investment options. Call or write to Fidelity or visit Fidelity.com for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.

The tax information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice. Fidelity does not provide legal or tax advice. Fidelity cannot guarantee that such information is accurate, complete, or timely. Always consult an attorney or tax professional regarding your specific legal or tax situation.

Principal value and investment returns of a variable annuity will fluctuate and you may have a gain or loss when money is withdrawn.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, and/or Fidelity Insurance Agency, Inc. are the distributors.

Fidelity, Fidelity Investments, Empire Fidelity Investments Life Insurance Company, Fidelity Personal Retirement Annuity and the Pyramid Design logo are registered service marks of FMR LLC.

Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917

Fidelity Investments Institutional Services Company, Inc. 100 Salem St., Smithfield, RI 02917

613287.1.0 © 2012 FMR LLC. All rights reserved.

1 Cerulli Associates Quantitative Update Retirement Markets 2011 and Cerulli Edge Retirement Edition, Q4 2011

2 Fidelity Personal Retirement Annuity (Policy Form No. DVA-2005, et al.) is issued by Fidelity Investments Life Insurance Company (FILI) and, for New York residents, Personal Retirement Annuity (Policy Form No. EDVA-2005, et al.) is issued by Empire Fidelity Investments Life Insurance Company,® New York, N.Y. FILI is licensed in all states except New York. The contract’s financial guarantees are solely the responsibility of the issuing insurance company. Fidelity Brokerage Services, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc. are the distributors.

3 Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59½ , may be subject to a 10% IRS penalty. Fidelity annuities are issued by Fidelity Investments Life Insurance Company (FILI), and in New York, by Empire Fidelity Investments Life Insurance Company, ® New York, N.Y. FILI is licensed in all states except New York. Some annuities are issued by third party insurance carriers. The contract's financial guarantees are solely the responsibility of the issuing insurance company.

4 According to 12/31/11 data on non-group open variable annuities from Morningstar, Inc., at 0.25% Fidelity Personal Retirement Annuity's annual annuity charge is among the lowest 1% and is significantly lower than the industry average 1.34% annual annuity charge. Underlying fund fees also apply. Contracts purchased with an initial purchase payment of $1 million or more will qualify for a reduced annual annuity charge of 0.10% (the initial purchase payment is the amount applied to the contract on the contract date). Underlying fund fees also apply.

5 Data for the Assessment were collected through a national online survey of more than 2,800 Americans (1,846 who currently work and earn at least $20,000 per year, and 966 self-described as retired). All are aged 25 years or older and are the financial decision-makers in their households. Data collection for the 2012 Assessment was completed in September 2011 for Fidelity Investments by Richard Day Research, Evanston, Ill., an independent research firm not affiliated with Fidelity Investments. The Assessment calculations rely on the proprietary asset-liability modeling engine of Strategic Advisers, Inc., which has been providing asset allocation, retirement and tax-sensitive investment management services to Fidelity’s individual and institutional clients for nearly two decades. Using its modeling engine, Strategic Advisers generates the percentage of potential pre-retirement net income that each individual American household surveyed is likely to replace upon retirement. The Assessment represents the median (or midpoint) of the more than 1,800 individual accumulator household percentages produced. Results are weighted to reflect demographic trends in the United States.

6 Morningstar ratings are based on a fund's risk-adjusted returns. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Past performance is no guarantee of future results.

7 Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59 ½ , may be subject to a 10% IRS penalty.

8 Periodic Investing does not ensure a profit or protect against a loss in a declining market.

9 Fidelity Brokerage Services LLC, Member NYSE, SIPC, and/or Fidelity Insurance Agency, Inc., distribute fixed and variable insurance products issued by Fidelity Investment Life Insurance Company, Empire Fidelity Investments Life Insurance Company, New York, NY, and certain third party insurance companies, which are not affiliated with Fidelity Investments. 1

10 Ratings current as of March 2012. Financial strength ratings are opinions from independent rating agencies of an insurer's financial strength and ability to pay its insurance policies and contract obligations. They are not recommendations to purchase, hold or terminate any insurance policy or contract issued by an insurer, nor do they address the suitability of any particular policy or contract for a specific purpose or purchaser. Ratings range from A++ to F for AM Best ratings, and AAA to CC for Standard & Poor's ratings, and are subject to change. For the latest ratings, access www.ambest.com and www.standardandpoors.com.