Fidelity Investments Hong Kong Retirement Education

1. Fidelity Retirement Services Investment Review Fidelity Investments Hong Kong Retirement Education March 6, 2002

2. Hong Kong Baptist University 1998 Superannuation Fund 1 High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class 2 Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class 3 Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class

3. High Growth Profile High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Benchmark: A composite index consisting of 27% FTSE AW HK, 3% HSBC, 12% FTSE AW Japan, 12% FTSE AW Asia Pacific ex. Japan ex. HK, 18% FTSE AW North America, 18% FTSE AW Europe, 7% Salomon Smith Barney WGBI, and 3% 1-month HIBOR Median: Survey median for the growth fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Fidelity Investments & Mercer Investment Consulting, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

4. Growth Profile Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Benchmark: A composite index consisting of 21.6% FTSE AW HK, 2.4% HSBC, 9% FTSE AW Japan, 9% FTSE AW Asia Pacific ex. Japan ex. HK, 14% FTSE AW North America, 14% FTSE AW Europe, 25% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Median: Survey median for the balanced fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Fidelity Investments & Mercer Investment Consulting, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

5. Balanced Profile Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Benchmark: A composite index consisting of 15.3% FTSE AW HK, 1.7% HSBC, 6.5% FTSE AW Japan, 6.5% FTSE AW Asia Pacific ex. Japan ex. HK, 10% FTSE AW North America, 10% FTSE AW Europe, 45% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Median: Survey median for the stable growth fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Fidelity Investments & Mercer Investment Consulting, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

6. High Growth Profile High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Median: Survey median for the growth fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Mercer Investment Consulting, NAV to NAV, in USD, as of December 31, 2002.

7. Growth Profile Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Median: Survey median for the balanced fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Mercer Investment Consulting, NAV to NAV, in USD, as of December 31, 2002.

8. Balanced Profile Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Median: Survey median for the stable growth fund category is the median representative from the Mercer Hong Kong Investment Choice Survey Universe Source: Mercer Investment Consulting, NAV to NAV, in USD, as of December 31, 2002.

9. High Growth Profile High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Benchmark: A composite index consisting of 27% FTSE AW HK, 3% HSBC, 12% FTSE AW Japan, 12% FTSE AW Asia Pacific ex. Japan ex. HK, 18% FTSE AW North America, 18% FTSE AW Europe, 7% Salomon Smith Barney WGBI, and 3% 1-month HIBOR Source: Fidelity Investments, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

10. Growth Profile Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Benchmark: A composite index consisting of 21.6% FTSE AW HK, 2.4% HSBC, 9% FTSE AW Japan, 9% FTSE AW Asia Pacific ex. Japan ex. HK, 14% FTSE AW North America, 14% FTSE AW Europe, 25% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Source: Fidelity Investments, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

11. Balanced Profile Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Benchmark: A composite index consisting of 15.3% FTSE AW HK, 1.7% HSBC, 6.5% FTSE AW Japan, 6.5% FTSE AW Asia Pacific ex. Japan ex. HK, 10% FTSE AW North America, 10% FTSE AW Europe, 45% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Source: Fidelity Investments, Ordinary Class, NAV to NAV, in USD, as of December 31, 2002.

12. Cumulative Performance since Inception Superannuation Fund Inception with Fidelity Investments on April 1, 2002 and performance inception on April 30, 2002 High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Benchmark: A composite index consisting of 27% FTSE AW HK, 3% HSBC, 12% FTSE AW Japan, 12% FTSE AW Asia Pacific ex. Japan ex. HK, 18% FTSE AW North America, 18% FTSE AW Europe, 7% Salomon Smith Barney WGBI, and 3% 1-month HIBOR Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Benchmark: A composite index consisting of 21.6% FTSE AW HK, 2.4% HSBC, 9% FTSE AW Japan, 9% FTSE AW Asia Pacific ex. Japan ex. HK, 14% FTSE AW North America, 14% FTSE AW Europe, 25% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Benchmark: A composite index consisting of 15.3% FTSE AW HK, 1.7% HSBC, 6.5% FTSE AW Japan, 6.5% FTSE AW Asia Pacific ex. Japan ex. HK, 10% FTSE AW North America, 10% FTSE AW Europe, 45% Salomon Smith Barney WGBI, and 5% 1-month HIBOR Source: Fidelity Investments, Ordinary Class, NAV to NAV, in USD, from April 30, 2002 to January 31, 2003.

13. 2003 Investment Strategy Outlook

14. Investment Strategy Summary

15. www.fidelity.com.hk

18. 2629 2666

19. Investment involves risks. Past performance is no guarantee of future returns. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further details. Investment in the Fidelity Advantage Portfolio Fund is not available to the general investing public. Investment in the Fidelity Advantage Portfolio Fund is available only to ORSO and MPF retirement benefit schemes, their related Approved Pool Investment Funds, institutions, high net worth individuals, or those individuals who have recently been or still are members of an ORSO or MPF retirement benefit scheme. If you are an individual retail investor who is not a current member of an ORSO or MPF retirement benefit scheme but wish to invest your accrued benefits in Fidelity managed funds, please contact Fidelity for further details about our range of investment funds, which are available to the general public.

20. High Growth Profile High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.

21. Growth Profile Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.

22. Balanced Profile Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.

23. High Growth Profile High Growth Profile invests in Fidelity Advantage Portfolio Fund – Growth Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.

24. Growth Profile Growth Profile invests in Fidelity Advantage Portfolio Fund – Balanced Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.

25. Balanced Profile Balanced Profile invests in Fidelity Advantage Portfolio Fund – Stable Growth Fund Ordinary Class Source: Fidelity Investments as of December 31, 2002.