Fidelity Advisor Strategic Opportunities Fund
Client Services Callout Script
Introduction
HELLO, MR./MS. (SHAREHOLDER). MY NAME IS ___________. I AM CALLING
ON BEHALF OF FIDELITY INVESTMENTS FOLLOWING UP ON A RECENT PROXY
MAILING THEY SENT YOU REGARDING THE FIDELITY ADVISOR STRATEGIC
OPPORTUNITIES FUND. I'M ASSISTING FIDELITY IN CONNECTION WITH THE
PROXY VOTE TO APPROVE TWO IMPORTANT PROPOSALS THAT AFFECT THE FUND AND
YOUR INVESTMENT IN IT. I AM CALLING TO ENCOURAGE YOU TO VOTE YOUR
PROXY IF YOU HAVE NOT YET DONE SO.
HAVE YOU RECEIVED THE FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
PROXY MATERIAL? THE PACKAGE WAS MAILED ON OR ABOUT APRIL 19, 1999.
(Describe the mailings to the shareholder if he/she does not recall it
==> 6"x9" envelope with yellow and black bar down the side.)
If NO: Confirm shareholder's address for the purpose of sending proxy
materials.
Q: COULD I PLEASE CONFIRM YOUR ADDRESS FOR THE PURPOSE OF SENDING
PROXY MATERIALS TO YOU?
Tell the shareholder that a new package will be mailed to him/her.
Ask the shareholder to review the material upon receipt and vote
his/her shares by signing, dating and mailing the proxy card in the
return envelope provided, before the shareholder meeting June 16,
1999. Inform the shareholder that if he/she wishes to vote by fax,
he/she may do so. Thank the shareholder for his/her time. (End
call.)
I WILL HAVE A NEW PROXY PACKAGE MAILED TO YOU. PLEASE REVIEW THE
MATERIAL WHEN YOU RECEIVE IT AND VOTE YOUR SHARES BY SIGNING, DATING
AND MAILING THE PROXY CARD IN THE RETURN ENVELOPE PROVIDED, TO ENSURE
THAT YOUR VOTE IS COUNTED AT THE SHAREHOLDER MEETING SCHEDULED FOR
JUNE 16, 1999. IF YOU WOULD LIKE TO VOTE BY FAX, YOU MAY FAX BOTH
SIDES OF YOUR SIGNED PROXY CARD TO 1-888-451-8683. THANK YOU FOR YOUR
TIME THIS EVENING. (End call.)
If YES: Q: HAVE YOU REVIEWED THE MATERIAL?
If NO: PLEASE REVIEW THE MATERIAL AT YOUR EARLIEST CONVENIENCE AND
VOTE YOUR SHARES BY SIGNING, DATING AND MAILING THE PROXY CARD IN THE
RETURN ENVELOPE PROVIDED, TO ENSURE THAT YOUR VOTE IS COUNTED AT THE
SHAREHOLDER MEETING SCHEDULED FOR JUNE 16, 1999. IF YOU WOULD LIKE TO
VOTE BY FAX, YOU MAY FAX BOTH SIDES OF YOUR SIGNED PROXY CARD TO
1-888-451-8683. IF YOU WOULD LIKE TO VOTE BY PHONE, PLEASE CALL
1-800-848-3155.
If YES: DO YOU HAVE ANY QUESTIONS?
If YES: Only answer questions using the proxy material and then
encourage the shareholder to vote. (See attached list of approved
Q&A). (DO NOT GUESS).
If NO or after answering all questions:
TO ENSURE THAT YOUR VOTE IS COUNTED AT THE SHAREHOLDER MEETING
SCHEDULED FOR JUNE 16, 1999, PLEASE VOTE YOUR SHARES BY SIGNING,
DATING AND MAILING THE PROXY CARD IN THE RETURN ENVELOPE PROVIDED. IF
YOU WOULD LIKE TO VOTE BY FAX, YOU MAY FAX BOTH SIDES OF YOUR SIGNED
PROXY CARD TO 1-888-451-8683. IF YOU WOULD LIKE TO VOTE BY PHONE,
PLEASE CALL 1-800-848-3155. THANK YOU FOR YOUR TIME. (End call.)
FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
LOG SHEET
Date__________________
Fidelity Advisor Rep_____________
Address Correction
Social Security No. (record from database; do not ask
shareholder)________________
Shareholder
Name_______________________________________________________
Street Address
_________________________________________________________
City_________________________State_____________Zip
Code_________________
Materials to Be Sent
Proxy Card Only ________
Full Proxy Kit __________
Comments
Notable Shareholder
Response____________________________________________
_____________________________________________________________________
_____________________________________________________________________
Other Comments________________________________________________________
______________________________________________________________________
______________________________________________________________________
IMPORTANT INFORMATION TO
HELP YOU UNDERSTAND THE
PROPOSALS THAT YOU
ARE BEING ASKED TO VOTE ON.
PLEASE READ THE FULL TEXT OF THE PROXY STATEMENT. BELOW IS A BRIEF
OVERVIEW OF THE MATTERS TO BE VOTED UPON. YOUR VOTE IS IMPORTANT. IF
YOU HAVE ANY QUESTIONS REGARDING ANY OF THE PROPOSALS, PLEASE CALL
1-800-522-7297 IF YOU PURCHASED YOUR SHARES THROUGH A FINANCIAL
INTERMEDIARY OR A FINANCIAL INSTITUTION, OR 1-800-544-8888 IF YOU
PURCHASED YOUR SHARES DIRECTLY FROM FIDELITY. WE APPRECIATE YOU
PLACING YOUR TRUST IN THE FIDELITY ADVISOR STRATEGIC OPPORTUNITIES
FUND AND LOOK FORWARD TO HELPING YOU ACHIEVE YOUR FINANCIAL GOALS.
Q. WHY IS THE FUND PROPOSING TO ELIMINATE CERTAIN OF ITS FUNDAMENTAL
INVESTMENT POLICIES? (PROPOSAL 1(A))
A. Although the fund's current fundamental investment policies do not
specify a particular investment style or market capitalization, the
fund's holdings have tended to be value stocks with significantly
smaller market capitalizations than the broad market. If approved,
the proposal will allow the fund to be defined more clearly in the
future as a value fund that focuses on medium-sized companies. The
Trustees intend to change the fund's name to "Fidelity Advisor Value
Strategies Fund" if the proposal is approved to better reflect the
fund's investment style. The fund's investment objective of capital
appreciation will not change.
Q. WHY IS THE FUND PROPOSING TO AMEND ITS MANAGEMENT CONTRACT TO
ELIMINATE THE PERFORMANCE ADJUSTMENT TO THE FUND'S MANAGEMENT FEE?
(PROPOSAL 1(B))
A. If proposal 1(a) is approved, FMR intends to focus the fund's
investments on value stocks. FMR also intends to focus the fund's
investments on securities of medium-sized companies. The Standard &
Poor's 500 Index (S&P 500) - the index used to calculate the fund's
performance adjustment under the present contract - is a broad measure
of the performance of the overall U.S. stock market and includes both
"growth" stocks and "value" stocks. The S&P 500 also has a
significantly higher average market capitalization than the fund. If
proposal 1(a) is approved , the S&P 500 no longer will be an
appropriate benchmark for the fund. FMR considered whether to
recommend changing the performance adjustment index from the S&P 500
to a more narrowly-based index, but determined instead to recommend
eliminating the performance adjustment due to the difficulties of
calculating performance adjustments for multiple class funds, such as
the fund.
Q. IF THE AMENDED MANAGEMENT CONTRACT IS APPROVED, WHEN WILL THE
PERFORMANCE ADJUSTMENT BE ELIMINATED AND WHAT IMPACT WILL ELIMINATING
THE PERFORMANCE ADJUSTMENT HAVE ON THE FUND'S MANAGEMENT FEE?
(PROPOSAL 1(B))
A. If the proposal is approved, FMR will continue to calculate the
performance adjustment on the fund for an 18 month "phase-out" period.
During this period, FMR will not receive any positive performance
adjustments but instead will receive the lower of the basic management
fee or the basic management fee less any negative performance
adjustments. Thus, during this phase-out period, the performance
adjustment can decrease, but not increase, the management fee owed by
the fund. During this phase-out period, FMR will continue to use the
S&P 500 for performance fee calculations. The future impact of
eliminating the performance adjustment will depend on many different
factors and may represent an increase or a decrease from the fund's
aggregate management fee under the present contract.
Q. WHAT HAPPENS IF ONLY ONE OF THE TWO PROPOSALS IN THE PROXY
STATEMENT IS APPROVED?
A. Proposals 1(a) and 1(b) are contingent upon each other. Neither
proposal will be implemented unless both proposals are approved.
Q. HAS THE FUND'S BOARD OF TRUSTEES APPROVED BOTH PROPOSALS?
A. The Board of Trustees of the fund has unanimously approved both
proposals and recommends that you vote to approve them.
Q. HOW MANY VOTES AM I ENTITLED TO CAST?
A. As a shareholder, you are entitled to one vote for each dollar of
net asset value you own of the fund on the record date. The record
date is April 19, 1999.
Q. HOW DO I VOTE MY SHARES?
A. You can vote your shares by completing and signing the enclosed
proxy card, and mailing it in the enclosed postage paid envelope. If
you need any assistance, or have any questions regarding the proposals
or how to vote your shares, please do not hesitate to call
1-800-522-7297 if you purchased your shares through a financial
intermediary or a financial institution, or 1-800-544-8888 if you
purchased your shares directly from Fidelity.
Q. HOW DO I SIGN THE PROXY CARD?
A. INDIVIDUAL ACCOUNTS: Shareholders should sign exactly as their
names appear on the account registration shown on the card.
JOINT ACCOUNTS: Either owner may sign, but the name of the person
signing should conform exactly to a name shown in the registration.
ALL OTHER ACCOUNTS: The person signing must indicate his or her
capacity. For example, a trustee for a trust or other entity should
sign, "Ann B. Collins, Trustee."
FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
Script for Leaving a Message on an Answering Machine
HELLO, MR./MS. (SHAREHOLDER). MY NAME IS ___________. I AM CALLING
ON BEHALF OF FIDELITY INVESTMENTS FOLLOWING UP ON A RECENT PROXY
MAILING THEY SENT YOU REGARDING THE FIDELITY ADVISOR STRATEGIC
OPPORTUNITIES FUND. I'M ASSISTING FIDELITY IN CONNECTION WITH THE
PROXY VOTE TO APPROVE TWO IMPORTANT PROPOSALS THAT AFFECT THE FUND AND
YOUR INVESTMENT IN IT.
As an owner of the Fidelity Advisor Strategic Opportunities Fund, you
should have received proxy materials in the mail. At your earliest
convenience, please sign, date and mail the proxy card in the return
envelope provided to you. If you have any questions about the
proposals or did not receive any proxy material, please call me at
1-800-522-7297. Thank you for your time.
Fidelity Advisor Strategic Opportunities Fund
D.F. King Telephone Voting Script
Introduction
HELLO, MR./MS. (SHAREHOLDER). MY NAME IS ___________. I AM CALLING
ON BEHALF OF FIDELITY INVESTMENTS FOLLOWING UP ON A RECENT PROXY
MAILING THEY SENT YOU REGARDING THE FIDELITY ADVISOR STRATEGIC
OPPORTUNITIES FUND. I'M ASSISTING FIDELITY IN CONNECTION WITH THE
PROXY VOTE TO APPROVE TWO IMPORTANT PROPOSALS THAT AFFECT THE FUND AND
YOUR INVESTMENT IN IT. I AM CALLING TO ENCOURAGE YOU TO VOTE YOUR
PROXY IF YOU HAVE NOT YET DONE SO.
HAVE YOU RECEIVED THE FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
PROXY MATERIAL? THE PACKAGE WAS MAILED ON OR ABOUT APRIL 19, 1999.
(Describe the mailings to the shareholder if he/she does not recall it
==> 6"x9" envelope with yellow and black bar down the side.)
If NO: Confirm shareholder's address for the purpose of sending proxy
materials.
Q: COULD I PLEASE CONFIRM YOUR ADDRESS FOR THE PURPOSE OF SENDING
PROXY MATERIALS TO YOU?
(If address is incorrect, please write down correct address at end of
script under "Comments" and forward to Fidelity.)
Tell the shareholder that a new package will be mailed to him/her.
Ask the shareholder to review the material upon receipt and vote
his/her shares by signing, dating and mailing the proxy card in the
return envelope provided, before the shareholder meeting June 16,
1999. Inform the shareholder that if he/she wishes to vote by fax,
he/she may do so. Thank the shareholder for his/her time. (End
call.)
I WILL HAVE A NEW PROXY PACKAGE MAILED TO YOU. PLEASE REVIEW THE
MATERIAL WHEN YOU RECEIVE IT AND VOTE YOUR SHARES BY SIGNING, DATING
AND MAILING THE PROXY CARD IN THE RETURN ENVELOPE PROVIDED, TO ENSURE
THAT YOUR VOTE IS COUNTED AT THE SHAREHOLDER MEETING SCHEDULED FOR
JUNE 16, 1999. IF YOU WOULD LIKE TO VOTE BY FAX, YOU MAY FAX BOTH
SIDES OF YOUR SIGNED PROXY CARD TO 1-888-451-8683. THANK YOU FOR YOUR
TIME THIS EVENING. (End call.)
If YES: Q: HAVE YOU REVIEWED THE MATERIAL?
If NO: PLEASE REVIEW THE MATERIAL AT YOUR EARLIEST CONVENIENCE AND
VOTE YOUR SHARES BY SIGNING, DATING AND MAILING THE PROXY CARD IN THE
RETURN ENVELOPE PROVIDED, TO ENSURE THAT YOUR VOTE IS COUNTED AT THE
SHAREHOLDER MEETING SCHEDULED FOR JUNE 16, 1999. IF YOU WOULD LIKE TO
VOTE BY FAX, YOU MAY FAX BOTH SIDES OF YOUR SIGNED PROXY CARD TO
1-888-451-8683.
If YES: DO YOU HAVE ANY QUESTIONS?
If YES: Only answer questions using the proxy material. (See attached
list of approved Q&A). (DO NOT GUESS). If the shareholder has
questions that are account-specific and outside the scope of the proxy
statement, ask if they would like to be transferred to a Fidelity
representative.
If YES: Conference in Fidelity at 1-800-522-7297, introduce the
customer, and transfer the call. (End call.)
I'D BE GLAD TO TRANSFER YOU TO A FIDELITY REPRESENTATIVE RIGHT NOW TO
HELP ANSWER YOUR QUESTIONS. PLEASE HOLD WHILE I CALL FIDELITY. (Once
Fidelity rep answers and customer is still on hold ==> THIS IS
______FROM DF KING. WE ARE ASSISTING FIDELITY IN CALLING FIDELITY
ADVISOR STRATEGIC OPPORTUNITIES FUND SHAREHOLDERS TO ENCOURAGE THEM TO
VOTE THE PROXY THAT WAS RECENTLY MAILED TO THEM. I HAVE A SHAREHOLDER
ON HOLD AND THEY HAVE FURTHER QUESTIONS I AM UNABLE TO ANSWER. COULD
YOU PLEASE SPEAK TO HIM/HER? (Then conference call in customer and
introduce customer to Fidelity rep ==> HELLO, MR./MS. ______, I HAVE
________ FROM FIDELITY ON THE LINE AND HE/SHE'LL BE HAPPY TO HELP
ANSWER YOUR QUESTIONS. THANK YOU. (Transfer customer and end call.)
If NO: Politely refer them to Fidelity at 1-800-522-7297. Thank the
shareholder for his/her time. (End call.)
If shareholder sounds hostile:
Thank the shareholder for his/her time. (End call.)
OKAY, I WILL GIVE YOU FIDELITY'S PHONE NUMBER IN CASE YOU'D LIKE TO
CALL THEM AT ANOTHER TIME. THE PHONE NUMBER IS 1-800-522-7297.
THANK YOU FOR YOUR TIME. (End call.)
If not hostile: After answering all questions, offer the shareholder
the opportunity to vote by telephone. Let the shareholder know that
you will be recording the next part of the call, to ensure accuracy in
his/her vote. Confirm the shareholder's identity by having him/her
repeat his/her full name, address and the last 4 digits of his/her
social security number. Record the shareholder's vote on the
proposal.
If the shareholder asks how the Board of Trustees voted,
inform him/her that the Board of Trustees recommends a vote in favor
of the proposals.
Inform the shareholder that a confirmation letter will be sent to
him/her, with a phone number to call if an error was
made in recording his/her vote, or if he/she wishes to change his/her
vote for any reason. Thank the shareholder for his/her time, and end
the phone call.
TO FACILITATE YOUR VOTING OF THE PROXY, YOU CAN VOTE BY TELEPHONE.
IF YOU WOULD LIKE TO VOTE BY TELEPHONE, THE NEXT PART OF OUR CALL
WILL BE RECORDED. THIS IS TO ENSURE THE ACCURACY OF YOUR VOTE. ALSO,
WE WILL BE SENDING YOU A CONFIRMATION LETTER FOR YOUR RECORDS WITH A
PHONE NUMBER TO CALL IN CASE ANY ERROR WAS MADE IN RECORDING YOUR
VOTE, OR IF YOU WISH TO CHANGE YOUR VOTE FOR ANY REASON.
WOULD YOU LIKE TO VOTE BY TELEPHONE?
If NO: Politely refer him/her to Fidelity at 1-800- 522-7297. (End
call)
OKAY, I WILL GIVE YOU FIDELITY'S PHONE NUMBER IN CASE YOU'D LIKE TO
CALL THEM AT ANOTHER TIME. THE PHONE NUMBER IS 1-800-522-7297. THANK
YOU FOR YOUR TIME. (End call.)
If YES: Confirm the shareholder's identity by having him/her
repeat their full name, address and the last 4 digits of his/her
social security number. Record the shareholder's vote on the
proposal(s).
COULD YOU PLEASE REPEAT YOUR FULL NAME AND ADDRESS? COULD I PLEASE
HAVE THE LAST FOUR DIGITS OF YOUR SOCIAL SECURITY NUMBER? (If it
doesn't match, ask for the last four digits of the social security
number on the account.)
(If customer does not feel comfortable giving any part of his/her
social security number, empathize and say that we require
identification through this method to take a vote over the phone. If
the customer is still uncomfortable, explain that while you cannot
take the vote over the phone, you can mail him/her proxy materials and
they can vote by mail.)
I UNDERSTAND THAT YOU MAY FEEL UNCOMFORTABLE GIVING PART OF YOUR
SOCIAL SECURITY NUMBER OVER THE PHONE. IT IS PART OF OUR REQUIRED
PROCEDURES, HOWEVER, TO ENSURE PROPER IDENTIFICATION BEFORE WE TAKE
ANY VOTES OVER THE PHONE. IS THIS OK WITH YOU? (If customer agrees,
proceed with vote. If customer doesn't agree, offer to send proxy
materials.)
AGREES TO GIVE LAST FOUR DIGITS OF SSN:
NOW I WILL READ YOU THE TWO PROPOSALS AND ASK YOU WHETHER YOU VOTE
"FOR," "AGAINST," OR "ABSTAIN."
FIDELITY ADVISOR I TRUST
FIDELITY ADVISOR STRATEGIC
OPPORTUNITIES FUND (A,B,I,T,
INITIAL)
1) TO ELIMINATE CERTAIN X
FUNDAMENTAL INVESTMENT
POLICIES OF THE FUND.
2) TO APPROVE AN AMENDED X
MANAGEMENT CONTRACT FOR THE
FUND.
THANK YOU. AS I MENTIONED, I'LL BE SURE TO SEND A CONFIRMATION OF
YOUR VOTE TO YOU BY MAIL. THANKS FOR YOUR TIME THIS EVENING. (End
call.)
DOES NOT AGREE TO GIVE LAST FOUR DIGITS OF SSN: UNFORTUNATELY, I WILL
NOT BE ABLE TO TAKE YOUR VOTE OVER THE PHONE. WHAT I CAN DO IS HAVE A
NEW PROXY PACKAGE MAILED TO YOU. PLEASE REVIEW THE MATERIAL WHEN YOU
RECEIVE IT AND VOTE YOUR SHARES BY SIGNING, AND MAILING THE PROXY CARD
IN THE RETURN ENVELOPE PROVIDED, TO ENSURE THAT YOUR VOTE IS COUNTED
AT THE SHAREHOLDER MEETING SCHEDULED FOR JUNE 16, 1999. IF YOU WOULD
LIKE TO VOTE BY FAX, YOU MAY FAX THE FRONT AND BACK OF YOUR SIGNED
PROXY CARD TO 1-888-451-8683. THANK YOU FOR YOUR TIME THIS EVENING.
(End call.)
FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
LOG SHEET
Date__________________
DF King Rep_________________
Address Correction
Social Security No. (record from database; do not ask
shareholder)________________
Shareholder
Name_______________________________________________________
Street Address
_________________________________________________________
City_________________________State_____________Zip
Code_________________
Materials to Be Sent
Proxy Card Only ________
Full Proxy Kit __________
Comments
Notable Shareholder
Response____________________________________________
_____________________________________________________________________
_____________________________________________________________________
Other Comments________________________________________________________
______________________________________________________________________
______________________________________________________________________
Was Shareholder Transferred to Fidelity Representative?
Yes_______No________
IMPORTANT INFORMATION TO
HELP YOU UNDERSTAND THE
PROPOSALS THAT YOU
ARE BEING ASKED TO VOTE ON.
PLEASE READ THE FULL TEXT OF THE PROXY STATEMENT. BELOW IS A BRIEF
OVERVIEW OF THE MATTERS TO BE VOTED UPON. YOUR VOTE IS IMPORTANT. IF
YOU HAVE ANY QUESTIONS REGARDING ANY OF THE PROPOSALS, PLEASE CALL
1-800-522-7297 IF YOU PURCHASED YOUR SHARES THROUGH A FINANCIAL
INTERMEDIARY OR A FINANCIAL INSTITUTION, OR 1-800-544-8888 IF YOU
PURCHASED YOUR SHARES DIRECTLY FROM FIDELITY. WE APPRECIATE YOU
PLACING YOUR TRUST IN THE FIDELITY ADVISOR STRATEGIC OPPORTUNITIES
FUND AND LOOK FORWARD TO HELPING YOU ACHIEVE YOUR FINANCIAL GOALS.
Q. WHY IS THE FUND PROPOSING TO ELIMINATE CERTAIN OF ITS FUNDAMENTAL
INVESTMENT POLICIES? (PROPOSAL 1(A))
A. Although the fund's current fundamental investment policies do not
specify a particular investment style or market capitalization, the
fund's holdings have tended to be value stocks with significantly
smaller market capitalizations than the broad market. If approved,
the proposal will allow the fund to be defined more clearly in the
future as a value fund that focuses on medium-sized companies. The
Trustees intend to change the fund's name to "Fidelity Advisor Value
Strategies Fund" if the proposal is approved to better reflect the
fund's investment style. The fund's investment objective of capital
appreciation will not change.
Q. WHY IS THE FUND PROPOSING TO AMEND ITS MANAGEMENT CONTRACT TO
ELIMINATE THE PERFORMANCE ADJUSTMENT TO THE FUND'S MANAGEMENT FEE?
(PROPOSAL 1(B))
A. If proposal 1(a) is approved, FMR intends to focus the fund's
investments on value stocks. FMR also intends to focus the fund's
investments on securities of medium-sized companies. The Standard &
Poor's 500 Index (S&P 500) - the index used to calculate the fund's
performance adjustment under the present contract - is a broad measure
of the performance of the overall U.S. stock market and includes both
"growth" stocks and "value" stocks. The S&P 500 also has a
significantly higher average market capitalization than the fund. If
proposal 1(a) is approved , the S&P 500 no longer will be an
appropriate benchmark for the fund. FMR considered whether to
recommend changing the performance adjustment index from the S&P 500
to a more narrowly-based index, but determined instead to recommend
eliminating the performance adjustment due to the difficulties of
calculating performance adjustments for multiple class funds, such as
the fund.
Q. IF THE AMENDED MANAGEMENT CONTRACT IS APPROVED, WHEN WILL THE
PERFORMANCE ADJUSTMENT BE ELIMINATED AND WHAT IMPACT WILL ELIMINATING
THE PERFORMANCE ADJUSTMENT HAVE ON THE FUND'S MANAGEMENT FEE?
(PROPOSAL 1(B))
A. If the proposal is approved, FMR will continue to calculate the
performance adjustment on the fund for an 18 month "phase-out" period.
During this period, FMR will not receive any positive performance
adjustments but instead will receive the lower of the basic management
fee or the basic management fee less any negative performance
adjustments. Thus, during this phase-out period, the performance
adjustment can decrease, but not increase, the management fee owed by
the fund. During this phase-out period, FMR will continue to use the
S&P 500 for performance fee calculations. The future impact of
eliminating the performance adjustment will depend on many different
factors and may represent an increase or a decrease from the fund's
aggregate management fee under the present contract.
Q. WHAT HAPPENS IF ONLY ONE OF THE TWO PROPOSALS IN THE PROXY
STATEMENT IS APPROVED?
A. Proposals 1(a) and 1(b) are contingent upon each other. Neither
proposal will be implemented unless both proposals are approved.
R. HAS THE FUND'S BOARD OF TRUSTEES APPROVED BOTH PROPOSALS?
A. The Board of Trustees of the fund has unanimously approved both
proposals and recommends that you vote to approve them.
Q. HOW MANY VOTES AM I ENTITLED TO CAST?
A. As a shareholder, you are entitled to one vote for each dollar of
net asset value you own of the fund on the record date. The record
date is April 19, 1999.
Q. HOW DO I VOTE MY SHARES?
A. You can vote your shares by completing and signing the enclosed
proxy card, and mailing it in the enclosed postage paid envelope. If
you need any assistance, or have any questions regarding the proposals
or how to vote your shares, please do not hesitate to call
1-800-522-7297 if you purchased your shares through a financial
intermediary or a financial institution, or 1-800-544-8888 if you
purchased your shares directly from Fidelity.
Q. HOW DO I SIGN THE PROXY CARD?
A. INDIVIDUAL ACCOUNTS: Shareholders should sign exactly as their
names appear on the account registration shown on the card.
JOINT ACCOUNTS: Either owner may sign, but the name of the person
signing should conform exactly to a name shown in the registration.
ALL OTHER ACCOUNTS: The person signing must indicate his or her
capacity. For example, a trustee for a trust or other entity should
sign, "Ann B. Collins, Trustee."
FIDELITY ADVISOR STRATEGIC OPPORTUNITIES FUND
Script for Leaving a Message on an Answering Machine
HELLO, MR./MS. (SHAREHOLDER). MY NAME IS ___________. I AM CALLING
ON BEHALF OF FIDELITY INVESTMENTS FOLLOWING UP ON A RECENT PROXY
MAILING THEY SENT YOU REGARDING THE FIDELITY ADVISOR STRATEGIC
OPPORTUNITIES FUND. I'M ASSISTING FIDELITY IN CONNECTION WITH THE
PROXY VOTE TO APPROVE TWO IMPORTANT PROPOSALS THAT AFFECT THE FUND AND
YOUR INVESTMENT IN IT.
As an owner of the Fidelity Advisor Strategic Opportunities Fund, you
should have received proxy materials in the mail. At your earliest
convenience, please sign, date and mail the proxy card in the return
envelope provided to you. If you have any questions about the
proposals or did not receive any proxy material, please call me at
1-800-848-3155. Thank you for your time.
