Fidelity Investments® Cuts Expenses for 529 College Saving Plan Index Portfolios by up to 52 Percent

Fidelity 529 Index Portfolio offering among most affordable in
industry

BOSTON–(BUSINESS WIRE)–Fidelity
Investments^® has announced a reduction in total
asset-based fees for Fidelity Index Portfolios within Fidelity managed
direct-sold 529 plans. Fees will now range from 0.11 percent to 0.20
percent, depending on the investment portfolio. This 30-52 percent
decrease makes Fidelity 529 Index Portfolio expenses among the very
lowest in the 529 college savings plan industry.

This reduction is the result of recent
enhancements made to Fidelity’s overall index fund line- up, now
providing Fidelity’s 529 Index Portfolios access to lower priced share
classes for underlying mutual funds, as well as a drop in total net
expenses on those underlying funds.

“Fidelity recognizes that parents are working hard to save for college,
and lower fees mean more of our customers’ money can be invested
directly toward their children’s education,” said Keith Bernhardt, vice
president of college planning and retirement products at Fidelity. “We
are committed to providing a robust menu of investment options that
offer great value alongside trusted planning guidance, online tools and
educational resources that can help families prepare to meet future
college costs.”

The index portfolio fee reduction applies to all Fidelity-managed
direct-sold 529 plans including The UNIQUE College Investing Plan,
Fidelity’s nationally distributed plan, offered by the State of New
Hampshire; the Massachusetts’ U.Fund^® College Investing Plan;
the Delaware College Investment Plan; and the Fidelity Arizona College
Savings Plan. Total fees for the 529 Index Portfolios, including program
management and state expenses, now range from 0.11 percent to 0.20
percent of assets, down from 0.19 percent to 0.29 percent. Unlike
several competitor plans, all Fidelity direct-sold 529 college savings
plans continue to have no annual account fees or low-balance fees.

Fidelity Study Finds Families Utilizing 529 College Savings Plans at
an All-Time High

Fidelity research finds that the number of families saving for college
is at an all-time high (69 percent), but keeping up with the rising cost
of college costs remains a challenge. According to the most recent Fidelity
College Savings Indicator Study¹, the typical
American family is currently on track to cover just 27 percent of their
college funding goals by the time their child graduates from high school.

While parents are still behind when it comes to saving to meet their
college goals, the 9^th annual study found a number of
positive steps being taken. Sixty-two percent of families report having
a financial plan in place to help reach their college goals (up from 59
percent the previous year). Use of 529 college savings plans is at an
all-time high (39 percent), increasing seven percent from last year, and
89 percent of 529 plan owners say they have either increased their
savings or continued to save at the same rate over the past 12 months.

“The best step a family can take is to start saving early and
regularly,” said Bernhardt. “Contributions add up over time – even in
small amounts – and saving in a dedicated account, like a tax-advantaged
529 college savings plan, can make a big difference when it comes time
to pay for college expenses. Taking time early to talk about college
priorities as a family, considering savings strategies, and developing a
plan can provide families confidence that they are on the right track to
reach their future college savings goals.”

Additional Resources to Help Families Save for College

For families looking for assistance at any stage of their college saving
process, Fidelity’s
College Savings Learning Center provides a range of online planning
tools and calculators, a broad overview of savings options and
strategies, as well as resources to learn more about how to search and
apply for financial aid and scholarships. Families can also learn more
about Fidelity’s 529
online gifting
service, which enables owners of Fidelity-managed 529 college
savings plans to create a personal college savings webpage for their
child or other beneficiary and share a link with family and friends
interested in gifting to the account online.

Fidelity offers complimentary access to dedicated college planning
representatives, as well as in-person guidance at 193 investor
centers nationwide.

About Fidelity Investments

¹ Fidelity Investments 2015 College Savings
Indicator Study, August 2015

Fidelity’s goal is to make financial expertise broadly accessible and
effective in helping people live the lives they want. With assets under
administration of $5.4 trillion, including managed assets of $2.1
trillion as of May 31, 2016, we focus on meeting the unique needs of a
diverse set of customers: helping more than 25 million people invest
their own life savings, nearly 20,000 businesses manage employee benefit
programs, as well as providing nearly 10,000 advisory firms with
investment and technology solutions to invest their own clients’ money.
Privately held for nearly 70 years, Fidelity employs 45,000 associates
who are focused on the long-term success of our customers. For more
information about Fidelity Investments, visit https://www.fidelity.com/about.

The UNIQUE College Investing Plan, the Fidelity Advisor 529 Plan, the
U.Fund^® College Investing Plan, the Delaware
College Investment Plan and the Fidelity Arizona College Savings Plan
are offered by the state of New Hampshire, MEFA, the state of Delaware,
and the Arizona Commission for Postsecondary Education, respectively,
and managed by Fidelity Investments. If you or the designated
beneficiary are not a New Hampshire, Massachusetts, Delaware or Arizona
resident, you may want to consider, before investing, whether your state
or the designated beneficiary’s home state offers its residents a plan
with alternate state tax advantages or other benefits.

Units of the portfolios are municipal securities and may be subject
to market volatility and fluctuation.

Guidance provided by Fidelity is educational in nature, is not
individualized and is not intended to serve as the primary or sole basis
for your investment or tax-planning decisions.

Fidelity, Fidelity Investments, and the Fidelity Investments &
Pyramid Design logo are registered service marks of FMR LLC.

The third party marks appearing herein are the property of their
respective owners.

Please carefully consider the plan’s investment objectives, risks,
charges, and expenses before investing. For this and other information
on any 529 college savings plan managed by Fidelity, contact Fidelity
for a free Fact Kit, or view one online. Read it carefully before you
invest or send money.

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

766831.1.0
© 2016 FMR LLC. All rights reserved.

Contacts

Contacts for Media Only:
Fidelity Corporate Communications
617-563-5800
Follow
us on Twitter @FidelityNews
or
Michelle
Tessier, 201-915-7470
Michelle.Tessier@fmr.com
or
MeeJin
Annan-Brady, 201-915-8219
MeeJin.Annan-Brady@fmr.com