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Investment Options

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What it invests in: Each Freedom fund invests in a diversified portfolio of Fidelity mutual funds. Each fund's overall asset allocation strategy is based on the number of years until its target retirement date, and the strategy gradually becomes more conservative as each fund approach- es its target date. After reaching the target retirement date, the fund continues to be managed more conservatively for 10-15 more years, until the asset mix is approximately the same as that of the Fidelity Freedom Income Fund. Ultimately, it is expected that the fund will merge

into the Freedom Income Fund.

Fidelity Freedom 2050 Fund invests approximately 70% in domestic equity funds, 20% in international equity

funds, and 11% in bond funds. The fund's current and/or projected target asset allocation percentages are also available in the fund's fact sheet, prospectus, and annual and semiannual reports. The fund's manager selects underlying funds from those named in the fund's prospec- tus. Each underlying Fidelity mutual fund is separately managed by its applicable portfolio manager(s) in accordance with its own investment objective and, depending on that objective, may invest in domestic and foreign equities, investment-grade and/or high-yield fixed-income

securities, and short-term investments.

The investment risk of this fund changes over time as its asset allocation changes. The fund is sub-

ject to the volatility of the financial markets, including that of equity and fixed-income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the fund's target date.

Who might want to invest: Someone who wants a simple approach for choosing retirement investment options. Someone who wants a long-term investment strategy that changes over time as his or her target retirement date approaches. Someone who wishes to take advantage of a diversified portfolio of actively managed Fidelity funds.

Someone who feels comfortable with the risk of stock mutual funds when further from retirement and a greater concentration of bond and short-term mutual funds when closer to or in retirement.

Strategic Advisers, Inc., a subsidiary of FMR LLC, manages the Fidelity Freedom Funds®. The percentages represent anticipated target asset allocation at September 30, 2009. Total allocations may sometimes be over or under 100% due to rounding. The investment risk of each Fidelity Freedom Fund changes over time as the fund's asset allocation changes. The funds are subject to the volatility of the financial mar- kets, including that of equity and fixed-income investments in the U.S. and abroad, and may be subject to risks associated with investing in high-yield, small-cap and foreign securities. Principal invested is not guaranteed at any time, including at or after the funds' target dates.

Fidelity Growth Company Fund Fund code: 00025 What it is: A growth mutual fund. Goal: Seeks to provide capital appreciation.

What it invests in: Primarily invests in common stocks. The fund invests in companies that the manager believes have above-average growth potential. The fund may invest in securities of domestic and foreign issuers. Share price and return will vary.

Who might want to invest:

Someone who wants the potential for long-term growth, and who is willing to ride out the fluctuation of the stock market for the potential of a higher return.

Someone who wants to diversify a conservative portfolio by investing a portion of his or her money in a growth fund.

Fidelity Puritan® Fund Fund code: 00004 What it is: A balanced mutual fund. Goal: Seeks to provide income and capital growth consistent with reasonable risk.

What it invests in: Primarily invests approximately 60% of its assets in stocks and other equity securities, and the remainder in bonds and other debt securities, including lower-quality debt securities, when the outlook for the markets is neutral. Lower-quality debt securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. The fund will invest at least 25% of its assets in fixed income senior securities (including debt securities and preferred stocks). The fund may invest in securities of domestic and for- eign issuers. Share price and return will vary.

Who might want to invest:

Someone who wants the potential of both income and long-term growth, and who is willing to ride out the fluctuation of the stock market for the potential of a higher return.

Someone who wants to invest in a fund that selects both stocks and bonds.

Fidelity Real Estate Investment Portfolio Fund code: 00303 What it is: A growth and income mutual fund.

Goal: Seeks to provide above-average income and long-term capital growth, consistent with reasonable investment risk. The fund seeks to provide a yield that exceeds the composite yield of the S&P 500® Index.

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