NASDAQ Press Release

NASDAQ AND FIDELITY UNVEIL FINANCIAL PRODUCTS BASED ON THE NASDAQ COMPOSITE INDEX

New York and Boston — NASDAQ Financial Products Services, Inc., a wholly-owned subsidiary of The Nasdaq Stock Market, Inc. (NASDAQ), and Fidelity Investments^® today announced the launch of two financial products based on the NASDAQ Composite Index^®—an exchange-traded fund (ETF) that is listed and traded on NASDAQ and a domestic index mutual fund available directly from Fidelity. The ETF trades on NASDAQ under the symbol ONEQ.

"We're pleased that Fidelity has chosen the NASDAQ Composite Index as the benchmark for its first ETF," said John L. Jacobs, Chief Executive Officer of NASDAQ Financial Products Services, Inc. "The NASDAQ Composite is one of the most widely watched financial benchmarks in the world, while Fidelity has a reputation for providing investors with high-quality financial products. It's a powerful combination for investors."

NASDAQ is one of the world's leaders in financial products including the NASDAQ-100 Index Tracking Stock (QQQ*), which is currently the world's most actively traded exchange-traded fund and the most actively traded stock in the United States as of August 31, 2003. NASDAQ plays a unique role in the ETF arena, as it sponsors ETFs such as QQQ and BLDRs*; provides ETF benchmark indices such as the NASDAQ Composite, the NASDAQ Biotech, and the NASDAQ-100; and serves as a listing venue for ETFs such as ONEQ and BLDRs. Fidelity Investments is the largest mutual fund company in the United States and is one of the world's largest providers of financial services, with total managed assets of $906.0 billion and customer assets of $1.6 trillion as of August 31, 2003.

"This is a significant milestone for us as it marks the first time Fidelity will sponsor and manage an ETF," said Sanjiv Mirchandani, Fidelity Investments' executive vice president of Brokerage and Asset Management Products. "In recent years, ETFs have been among the fastest growing products in the financial services industry, and our brokerage customers have taken advantage of the variety of externally managed ETFs we've made available to them. We are delighted to combine resources with NASDAQ to provide our customers with new and innovative financial products based on the NASDAQ Composite Index."
"ETFs have been growing in popularity, providing investors with convenient and cost-effective equity exposure," said Deborah Fuhr, executive director of global ETF research at Morgan Stanley. "This is a promising alliance of two leaders in their industries, who both have a history of providing solid financial products to the investment community."

The NASDAQ Composite Index measures approximately 3,400 domestic and international NASDAQ-listed common type stocks. The top five industry groups and their weights include Computer Software & Hardware, 54%; Health Care, 13%; Financials, 11%; Consumer Discretionary, 8% and Telecommunications & Media, 6%, with other groups making up 8% of the Index as of August 31, 2003. An ETF based on the Composite provides investors with exposure to a wide range of NASDAQ-listed companies in a single trade.

This announcement expands Fidelity's leadership in providing its customers with a broad array of high-quality products and services. The firm manages more than 300 mutual funds for more than 18 million customers as of August 31, 2003. Through Fidelity's brokerage services, which have been available for 25 years, customers have the ability to buy and sell stocks, bonds, options, and exchange-traded funds, as well as more than 4,500 mutual funds — including the new Fidelity Nasdaq Composite Index Fund—online at www.fidelity.com, over the phone, via wireless devices or through representatives virtually 24 hours a day, seven days a week. Fidelity also offers specialized services for its customers who trade actively, including access to its Active Trader Pro™ application.

NASDAQ (OTCBB: NDAQ) is the world's largest electronic stock market. With approximately 3,500 companies, it lists more companies and has an average daily trading volume higher than any other U.S. market.
NASDAQ is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ Newsroom^SM at www.nasdaq.com/newsroom.

Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.6 trillion, including managed assets of $906.0 billion as of August 31, 2003. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

*Distributed by ALPS Distributors, Inc. To obtain more complete information about QQQ and BLDRS, unit investment trusts, including fees, expenses, and risks, please call 888.627.3837 or visit www.nasdaq-100.com / www.bldrsfunds.com to request a prospectus. Read it carefully before investing.

It is not possible to invest directly in an index. The NASDAQ Composite Index is a market capitalization weighted, unmanaged index that is designed to closely correspond to the price and yield performance of the NASDAQ Composite Index.

ETFs are subject to market fluctuations of their underlying investments. Diversification does not ensure a profit or guarantee a loss in a declining market.

NASDAQ®, NASDAQ Composite®, and NASDAQ Composite Index® are registered trademarks of The Nasdaq Stock Market, Inc. (which with its Affiliates are the "Corporations") and are licensed for use by Fidelity.

Fidelity Investments & Pyramid (design) is a registered trademark of FMR Corp. ONEQ is a trademark of FMR Corp.

For more complete information on Fidelity® Nasdaq Composite Index® Tracking Stock or Fidelity® Nasdaq Composite Index® Fund or any Fidelity fund, including fees and expenses, visit Fidelity.com or call any time at 800-FIDELITY for a free prospectus, which you should read carefully before you invest or send money.