FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

INVESTMENT COMPANY ACT FILE NUMBER: 811-03114

EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: Fidelity Select Portfolios

Fund Name: Select Telecommunications Portfolio

82 DEVONSHIRE STREET, BOSTON, MA 02109
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

ERIC D. ROITER, SECRETARY, 82 DEVONSHIRE STREET, BOSTON, MA 02109
(NAME AND ADDRESS OF AGENT FOR SERVICE)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 617-563-7000

DATE OF FISCAL YEAR END: FEBRUARY 28

DATE OF REPORTING PERIOD: 06/30/2005

SIGNATURES

PURSUANT TO THE REQUIREMENTS OF THE INVESTMENT COMPANY ACT OF 1940, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, THERE UNTO DULY AUTHORIZED.

Fidelity Select Portfolios

BY:  /s/ CHRISTINE REYNOLDS
-----------------------------------------------------
CHRISTINE REYNOLDS, TREASURER, FIDELITY MANAGEMENT & RESEARCH COMPANY
DATE: 08/09/2005 05:24:02 PM

EXHIBIT A

VOTE SUMMARY REPORT
Select Telecommunications Portfolio
07/01/2004 - 06/30/2005

Note: The Security ID will be the CUSIP (Committee on Uniform Securities Identification Procedures) when available. When CUSIP is not available, an alternate identifier, e.g., CINS, will be provided.

ISSUER NAME: ALAMOSA HOLDINGS, INC. MEETING DATE: 02/15/2005
TICKER: APCS     SECURITY ID: 011589108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO APPROVE THE ISSUANCE OF SHARES OF COMMON STOCK, PAR VALUE $0.01 PER SHARE, OF ALAMOSA PURSUANT TO THE AGREEMENT AND PLAN OF MERGER, DATED AS OF DECEMBER 7, 2004, BY AND AMONG ALAMOSA, A-CO. MERGER SUB, INC. AND AIRGATE PCS, INC. (THE MERGER AGREEMENT ), AS DESCRIBED IN THE JOINT PROXY STATEMENT- PROSPECTUS AND THE MERGER AGREEMENT.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: ALAMOSA HOLDINGS, INC. MEETING DATE: 06/02/2005
TICKER: APCS     SECURITY ID: 011589108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT KENDALL W. COWAN AS A DIRECTOR	Management	For	For
1.2	ELECT SCHUYLER B. MARSHALL AS A DIRECTOR	Management	For	For
1.3	ELECT THOMAS F. RILEY AS A DIRECTOR	Management	For	For
1.4	ELECT JANE E. SHIVERS AS A DIRECTOR	Management	For	For
2	APPROVAL OF AMENDMENT TO OUR THIRD AMENDED AND RESTATED EMPLOYEE STOCK PURCHASE PLAN.	Management	For	For
3	APPROVAL OF AMENDMENT TO OUR AMENDED AND RESTATED 1999 LONG-TERM INCENTIVE PLAN.	Management	For	For
4	RATIFICATION OF THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE 2005 FISCAL YEAR.	Management	For	For

ISSUER NAME: ALLTEL CORPORATION MEETING DATE: 04/21/2005
TICKER: AT     SECURITY ID: 020039103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JOHN R. BELK AS A DIRECTOR	Management	For	For
1.2	ELECT GREGORY W. PENSKE AS A DIRECTOR	Management	For	For
1.3	ELECT WARREN A. STEPHENS AS A DIRECTOR	Management	For	For
2	RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS	Management	For	For

ISSUER NAME: AMERICAN TOWER CORPORATION MEETING DATE: 05/26/2005
TICKER: AMT     SECURITY ID: 029912201
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT RAYMOND P. DOLAN AS A DIRECTOR	Management	For	For
1.2	ELECT CAROLYN F. KATZ AS A DIRECTOR	Management	For	For
1.3	ELECT GUSTAVO LARA CANTU AS A DIRECTOR	Management	For	For
1.4	ELECT FRED R. LUMMIS AS A DIRECTOR	Management	For	For
1.5	ELECT PAMELA D.A. REEVE AS A DIRECTOR	Management	For	For
1.6	ELECT JAMES D. TAICLET, JR. AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2005.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: AMPHENOL CORPORATION MEETING DATE: 05/25/2005
TICKER: APH     SECURITY ID: 032095101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT RONALD P. BADIE AS A DIRECTOR	Management	For	For
1.2	ELECT DEAN H. SECORD AS A DIRECTOR	Management	For	For
2	RATIFICATION OF DELOITTE & TOUCHE LLP AS INDEPENDENT PUBLIC ACCOUNTANTS OF THE COMPANY.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: AVAYA INC. MEETING DATE: 02/15/2005
TICKER: AV     SECURITY ID: 053499109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT PHILIP A. ODEEN AS A DIRECTOR	Management	For	For
1.2	ELECT HELLENE S. RUNTAGH AS A DIRECTOR	Management	For	For
1.3	ELECT PAULA STERN AS A DIRECTOR	Management	For	For
1.4	ELECT RICHARD F. WALLMAN AS A DIRECTOR	Management	For	For

ISSUER NAME: BELLSOUTH CORPORATION MEETING DATE: 04/25/2005
TICKER: BLS     SECURITY ID: 079860102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT F. DUANE ACKERMAN AS A DIRECTOR	Management	For	For
1.2	ELECT REUBEN V. ANDERSON AS A DIRECTOR	Management	For	For
1.3	ELECT JAMES H. BLANCHARD AS A DIRECTOR	Management	For	For
1.4	ELECT J. HYATT BROWN AS A DIRECTOR	Management	For	For
1.5	ELECT ARMANDO M. CODINA AS A DIRECTOR	Management	For	For
1.6	ELECT KATHLEEN F. FELDSTEIN AS A DIRECTOR	Management	For	For
1.7	ELECT JAMES P. KELLY AS A DIRECTOR	Management	For	For
1.8	ELECT LEO F. MULLIN AS A DIRECTOR	Management	For	For
1.9	ELECT WILLIAM S. STAVROPOULOS AS A DIRECTOR	Management	For	For
1.10	ELECT ROBIN B. SMITH AS A DIRECTOR	Management	For	For
2	RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	Management	For	For
3	SHAREHOLDER PROPOSAL RE: DISCLOSURE OF POLITICAL CONTRIBUTIONS	Shareholder	Against	Against

ISSUER NAME: CISCO SYSTEMS, INC. MEETING DATE: 11/18/2004
TICKER: CSCO     SECURITY ID: 17275R102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT CAROL A. BARTZ AS A DIRECTOR	Management	For	For
1.2	ELECT M. MICHELE BURNS AS A DIRECTOR	Management	For	For
1.3	ELECT LARRY R. CARTER AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN T. CHAMBERS AS A DIRECTOR	Management	For	For
1.5	ELECT DR. JAMES F. GIBBONS AS A DIRECTOR	Management	For	For
1.6	ELECT DR. JOHN L. HENNESSY AS A DIRECTOR	Management	For	For
1.7	ELECT RODERICK C. MCGEARY AS A DIRECTOR	Management	For	For
1.8	ELECT JAMES C. MORGAN AS A DIRECTOR	Management	For	For
1.9	ELECT JOHN P. MORGRIDGE AS A DIRECTOR	Management	For	For
1.10	ELECT DONALD T. VALENTINE AS A DIRECTOR	Management	For	For
1.11	ELECT STEVEN M. WEST AS A DIRECTOR	Management	For	For
1.12	ELECT JERRY YANG AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS CISCO S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING JULY 30, 2005.	Management	For	For
3	PROPOSAL SUBMITTED BY SHAREHOLDERS REQUESTING THAT THE BOARD S COMPENSATION COMMITTEE INITIATE A REVIEW OF CISCO S EXECUTIVE COMPENSATION POLICIES AND MAKE AVAILABLE, UPON REQUEST, A REPORT OF THAT REVIEW BY JANUARY 1, 2005, AS MORE FULLY SET FORTH IN THE ACCOMPANYING PROXY STATEMENT.	Shareholder	Against	Against

ISSUER NAME: CITIZENS COMMUNICATIONS COMPANY MEETING DATE: 05/26/2005
TICKER: CZN     SECURITY ID: 17453B101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JERRY ELLIOTT AS A DIRECTOR	Management	For	For
1.2	ELECT LAWTON WEHLE FITT AS A DIRECTOR	Management	For	For
1.3	ELECT STANLEY HARFENIST AS A DIRECTOR	Management	For	For
1.4	ELECT WILLIAM M. KRAUS AS A DIRECTOR	Management	For	For
1.5	ELECT SCOTT N. SCHNEIDER AS A DIRECTOR	Management	For	For
1.6	ELECT LARRAINE D. SEGIL AS A DIRECTOR	Management	For	For
1.7	ELECT ROBERT A. STANGER AS A DIRECTOR	Management	For	For
1.8	ELECT EDWIN TORNBERG AS A DIRECTOR	Management	For	For
1.9	ELECT DAVID H. WARD AS A DIRECTOR	Management	For	For
1.10	ELECT MYRON A. WICK, III AS A DIRECTOR	Management	For	For
1.11	ELECT MARY AGNES WILDEROTTER AS A DIRECTOR	Management	For	For
2	TO CONSIDER AND VOTE UPON AN AMENDMENT TO THE CITIZENS COMMUNICATIONS COMPANY AMENDED AND RESTATED 2000 EQUITY INCENTIVE PLAN TO REMOVE THE 2,500,000 SHARE SUB-LIMIT FOR STOCK-BASED AWARDS OTHER THAN STOCK OPTIONS, WITHOUT INCREASING THE TOTAL NUMBER OF SHARES AVAILABLE FOR ISSUANCE UNDER THE 2000 PLAN.	Management	For	Against
3	TO RATIFY THE APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2005.	Management	For	For
4	TO TRANSACT ANY OTHER BUSINESS THAT MAY PROPERLY BE BROUGHT BEFORE THE MEETING OR ANY ADJOURNMENT OR POSTPONEMENT OF THE MEETING.	Management	For	Abstain

ISSUER NAME: COMVERSE TECHNOLOGY, INC. MEETING DATE: 06/16/2005
TICKER: CMVT     SECURITY ID: 205862402
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT KOBI ALEXANDER AS A DIRECTOR	Management	For	For
1.2	ELECT RAZ ALON AS A DIRECTOR	Management	For	For
1.3	ELECT ITSIK DANZIGER AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN H. FRIEDMAN AS A DIRECTOR	Management	For	For
1.5	ELECT RON HIRAM AS A DIRECTOR	Management	For	For
1.6	ELECT SAM OOLIE AS A DIRECTOR	Management	For	For
1.7	ELECT WILLIAM F. SORIN AS A DIRECTOR	Management	For	For
2	ADOPTION AND APPROVAL OF THE COMPANY S 2005 STOCK INCENTIVE COMPENSATION PLAN.	Management	For	For
3	RATIFICATION OF THE ENGAGEMENT OF DELOITTE & TOUCHE LLP TO SERVE AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE COMPANY FOR THE YEAR ENDING JANUARY 31, 2006.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CROWN CASTLE INTERNATIONAL CORP. MEETING DATE: 05/26/2005
TICKER: CCI     SECURITY ID: 228227104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT DALE N. HATFIELD AS A DIRECTOR	Management	For	For
1.2	ELECT LEE W. HOGAN AS A DIRECTOR	Management	For	For
1.3	ELECT ROBERT F. MCKENZIE AS A DIRECTOR	Management	For	For
1.4	ELECT ROBERT E. GARRISON II AS A DIRECTOR	Management	For	For
2	THE RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT PUBLIC ACCOUNTANTS FOR 2005.	Management	For	For

ISSUER NAME: IOWA TELECOMMUNICATIONS SERVICES INC MEETING DATE: 06/16/2005
TICKER: IWA     SECURITY ID: 462594201
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MR. ALAN L. WELLS AS A DIRECTOR	Management	For	For
1.2	ELECT MR. BRIAN P. FRIEDMAN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS IOWA TELECOM S INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2005.1	Management	For	For
3	TO RATIFY AND ADOPT THE 2005 STOCK INCENTIVE PLAN.	Management	For	Against
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: JUNIPER NETWORKS, INC. MEETING DATE: 05/18/2005
TICKER: JNPR     SECURITY ID: 48203R104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM R. HEARST III AS A DIRECTOR	Management	For	For
1.2	ELECT KENNETH GOLDMAN AS A DIRECTOR	Management	For	For
1.3	ELECT FRANK MARSHALL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF ERNST & YOUNG LLP, AN INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, AS AUDITORS.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LUCENT TECHNOLOGIES INC. MEETING DATE: 02/16/2005
TICKER: LU     SECURITY ID: 549463107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT E. DENHAM AS A DIRECTOR	Management	For	For
1.2	ELECT DANIEL S. GOLDIN AS A DIRECTOR	Management	For	For
1.3	ELECT EDWARD E. HAGENLOCKER AS A DIRECTOR	Management	For	For
1.4	ELECT CARLA A. HILLS AS A DIRECTOR	Management	For	For
1.5	ELECT KARL J. KRAPEK AS A DIRECTOR	Management	For	For
1.6	ELECT RICHARD C. LEVIN AS A DIRECTOR	Management	For	For
1.7	ELECT PATRICIA F. RUSSO AS A DIRECTOR	Management	For	For
1.8	ELECT HENRY B. SCHACHT AS A DIRECTOR	Management	For	For
1.9	ELECT FRANKLIN A. THOMAS AS A DIRECTOR	Management	For	For
1.10	ELECT RONALD A. WILLIAMS AS A DIRECTOR	Management	For	For
2	DIRECTORS PROPOSAL TO APPROVE A REVERSE STOCK SPLIT IN ONE OF FOUR RATIOS	Management	For	For
3	SHAREOWNER PROPOSAL REGARDING PUBLICATION OF POLITICAL ACTION CONTRIBUTIONS	Shareholder	Against	Against
4	SHAREOWNER PROPOSAL REGARDING PERFORMANCE-BASED COMPENSATION AWARDS	Shareholder	Against	Against
5	SHAREOWNER PROPOSAL TO AMEND COMPANY S AUDIT SERVICES PRE-APPROVAL POLICY	Shareholder	Against	Against
6	SHAREOWNER PROPOSAL TO REQUIRE SHAREOWNER APPROVAL OF FUTURE GOLDEN PARACHUTES	Shareholder	Against	Against

ISSUER NAME: MCI INC. MEETING DATE: 05/16/2005
TICKER: MCIP     SECURITY ID: 552691107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT N. KATZENBACH AS A DIRECTOR	Management	For	For
1.2	ELECT D. BERESFORD AS A DIRECTOR	Management	For	For
1.3	ELECT M. CAPELLAS AS A DIRECTOR	Management	For	For
1.4	ELECT W. GREGORY AS A DIRECTOR	Management	For	For
1.5	ELECT J. HABERKORN AS A DIRECTOR	Management	For	For
1.6	ELECT L. HARRIS AS A DIRECTOR	Management	For	For
1.7	ELECT E. HOLDER AS A DIRECTOR	Management	For	For
1.8	ELECT M. NEPORENT AS A DIRECTOR	Management	For	For
1.9	ELECT C. ROGERS, JR. AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF KPMG AS INDEPENDENT AUDITORS FOR 2005.	Management	For	For

ISSUER NAME: MOTOROLA, INC. MEETING DATE: 05/02/2005
TICKER: MOT     SECURITY ID: 620076109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT E. ZANDER AS A DIRECTOR	Management	For	For
1.2	ELECT H.L. FULLER AS A DIRECTOR	Management	For	For
1.3	ELECT J. LEWENT AS A DIRECTOR	Management	For	For
1.4	ELECT W. MASSEY AS A DIRECTOR	Management	For	For
1.5	ELECT T. MEREDITH AS A DIRECTOR	Management	For	For
1.6	ELECT N. NEGROPONTE AS A DIRECTOR	Management	For	For
1.7	ELECT I. NOOYI AS A DIRECTOR	Management	For	For
1.8	ELECT S. SCOTT III AS A DIRECTOR	Management	For	For
1.9	ELECT R. SOMMER AS A DIRECTOR	Management	For	For
1.10	ELECT J. STENGEL AS A DIRECTOR	Management	For	For
1.11	ELECT D. WARNER III AS A DIRECTOR	Management	For	For
1.12	ELECT J. WHITE AS A DIRECTOR	Management	For	For
2	SHAREHOLDER PROPOSAL RE: NON-DEDUCTIBLE EXECUTIVE COMPENSATION	Shareholder	Against	For
3	SHAREHOLDER PROPOSAL RE: DIRECTOR ELECTION BY MAJORITY VOTE	Shareholder	Against	Against

ISSUER NAME: NEXTEL PARTNERS, INC. MEETING DATE: 05/12/2005
TICKER: NXTP     SECURITY ID: 65333F107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ADAM ARON AS A DIRECTOR	Management	For	For
1.2	ELECT JOHN CHAPPLE AS A DIRECTOR	Management	For	For
1.3	ELECT STEVEN B. DODGE AS A DIRECTOR	Management	For	For
1.4	ELECT TIMOTHY DONAHUE AS A DIRECTOR	Management	For	For
1.5	ELECT ARTHUR W. HARRIGAN, JR. AS A DIRECTOR	Management	For	For
1.6	ELECT JAMES N. PERRY, JR. AS A DIRECTOR	Management	For	For
1.7	ELECT CAROLINE H. RAPKING AS A DIRECTOR	Management	For	For
1.8	ELECT DENNIS M. WEIBLING AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT BY THE AUDIT COMMITTEE OF INDEPENDENT PUBLIC ACCOUNTANTS.	Management	For	For

ISSUER NAME: NII HOLDINGS, INC. MEETING DATE: 04/27/2005
TICKER: NIHD     SECURITY ID: 62913F201
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT NEAL P. GOLDMAN AS A DIRECTOR	Management	For	For
1.2	ELECT CHARLES M. HERINGTON AS A DIRECTOR	Management	For	For
1.3	ELECT JOHN W. RISNER AS A DIRECTOR	Management	For	For
2	RATIFICATION OF PRICEWATERHOUSECOOPERS LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2005.	Management	For	For

ISSUER NAME: NOKIA CORPORATION MEETING DATE: 04/07/2005
TICKER: NOK     SECURITY ID: 654902204
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE INCOME STATEMENTS AND THE BALANCE SHEET.	Management	For	None
2	APPROVAL OF A PROPOSAL TO THE ANNUAL GENERAL MEETING OF A DIVIDEND OF EUR 0.33 PER SHARE.	Management	For	None
3	DISCHARGE OF THE CHAIRMAN, THE MEMBERS OF THE BOARD OF DIRECTORS, AND THE PRESIDENT, FROM LIABILITY.	Management	For	None
4	PROPOSAL ON THE COMPOSITION OF THE BOARD AS PROPOSED BY THE CORPORATE GOVERNANCE AND NOMINATION COMMITTEE.	Management	For	None
5.1	ELECT PAUL J. COLLINS AS A DIRECTOR	Management	For	None
5.2	ELECT GEORG EHRNROOTH AS A DIRECTOR	Management	For	None
5.3	ELECT BENGT HOLMSTROM AS A DIRECTOR	Management	For	None
5.4	ELECT PER KARLSSON AS A DIRECTOR	Management	For	None
5.5	ELECT JORMA OLLILA AS A DIRECTOR	Management	For	None
5.6	ELECT MARJORIE SCARDINO AS A DIRECTOR	Management	For	None
5.7	ELECT VESA VAINIO AS A DIRECTOR	Management	For	None
5.8	ELECT ARNE WESSBERG AS A DIRECTOR	Management	For	None
5.9	ELECT DAN HESSE AS A DIRECTOR	Management	For	None
5.10	ELECT EDOUARD MICHELIN AS A DIRECTOR	Management	For	None
6	APPROVAL OF THE REMUNERATION TO BE PAID TO THE AUDITOR.	Management	For	None
7	APPROVAL OF THE RE-ELECTION OF PRICEWATERHOUSECOOPERS OY AS THE AUDITORS FOR FISCAL YEAR 2005.	Management	For	None
8	APPROVAL OF THE PROPOSAL TO GRANT STOCK OPTIONS TO SELECTED PERSONNEL OF THE COMPANY.	Management	For	None
9	APPROVAL OF THE PROPOSAL OF THE BOARD TO REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY COMPANY.	Management	For	None
10	AUTHORIZATION TO THE BOARD TO INCREASE THE SHARE CAPITAL OF THE COMPANY.	Management	For	None
11	AUTHORIZATION TO THE BOARD TO REPURCHASE NOKIA SHARES.	Management	For	None
12	AUTHORIZATION TO THE BOARD TO DISPOSE NOKIA SHARES HELD BY THE COMPANY.	Management	For	None
13	MARK THE FOR BOX IF YOU WISH TO INSTRUCT NOKIA S LEGAL COUNSELS TO VOTE IN THEIR DISCRETION ON YOUR BEHALF ONLY UPON ITEM 15.	Management	Unknown	None

ISSUER NAME: NORTEL NETWORKS CORPORATION MEETING DATE: 06/29/2005
TICKER: NT     SECURITY ID: 656568102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JALYNN H. BENNETT AS A DIRECTOR	Management	For	For
1.2	ELECT DR. MANFRED BISCHOFF AS A DIRECTOR	Management	For	For
1.3	ELECT ROBERT E. BROWN AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN E. CLEGHORN AS A DIRECTOR	Management	For	For
1.5	ELECT HON. JAMES B. HUNT, JR. AS A DIRECTOR	Management	For	For
1.6	ELECT ROBERT A. INGRAM AS A DIRECTOR	Management	For	For
1.7	ELECT JOHN A. MACNAUGHTON AS A DIRECTOR	Management	For	For
1.8	ELECT HON. JOHN P. MANLEY AS A DIRECTOR	Management	For	For
1.9	ELECT RICHARD D. MCCORMICK AS A DIRECTOR	Management	For	For
1.10	ELECT RONALD W. OSBORNE AS A DIRECTOR	Management	For	For
1.11	ELECT WILLIAM A. OWENS AS A DIRECTOR	Management	For	For
1.12	ELECT HARRY J. PEARCE AS A DIRECTOR	Management	For	For
2	APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS.1	Management	For	For
3	THE ADOPTION OF THE NORTEL U.S. STOCK PURCHASE PLAN, THE NORTEL GLOBAL STOCK PURCHASE PLAN, AND THE NORTEL STOCK PURCHASE PLAN FOR MEMBERS OF THE NORTEL SAVINGS AND RETIREMENT PROGRAM.	Management	For	For
4	THE ADOPTION OF THE NORTEL 2005 STOCK INCENTIVE PLAN.	Management	For	Against
5	SHAREHOLDER PROPOSAL NO. 1	Shareholder	Against	Against
6	SHAREHOLDER PROPOSAL NO. 2	Shareholder	Against	Against
7	SHAREHOLDER PROPOSAL NO. 3	Shareholder	Against	Against
8	SHAREHOLDER PROPOSAL NO. 4	Shareholder	Against	Against
9	SHAREHOLDER PROPOSAL NO. 5	Shareholder	Against	Against
10	SHAREHOLDER PROPOSAL NO. 6	Shareholder	Against	Against
11	SHAREHOLDER PROPOSAL NO. 7	Shareholder	Against	Against
12	SHAREHOLDER PROPOSAL NO. 8	Shareholder	Against	Against
13	SHAREHOLDER PROPOSAL NO. 9	Shareholder	Against	Against
14	SHAREHOLDER PROPOSAL NO. 10	Shareholder	Against	Against
15	SHAREHOLDER PROPOSAL NO. 11	Shareholder	Against	Against
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: QUALCOMM, INCORPORATED MEETING DATE: 03/08/2005
TICKER: QCOM     SECURITY ID: 747525103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT E. KAHN AS A DIRECTOR	Management	For	For
1.2	ELECT DUANE A. NELLES AS A DIRECTOR	Management	For	For
1.3	ELECT BRENT SCOWCROFT AS A DIRECTOR	Management	For	For
2	TO APPROVE AMENDMENTS TO THE COMPANY S RESTATED CERTIFICATE OF INCORPORATION TO ELIMINATE THE CLASSIFIED BOARD AND CUMULATIVE VOTING.	Management	For	For
3	TO APPROVE AMENDMENTS TO THE COMPANY S RESTATED CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK FROM 3 BILLION TO 6 BILLION.	Management	For	For
4	TO APPROVE AMENDMENTS TO THE COMPANY S RESTATED CERTIFICATE OF INCORPORATION TO REMOVE UNNECESSARY AND OUTDATED REFERENCES TO THE COMPANY S INITIAL PUBLIC OFFERING.	Management	For	For
5	TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE COMPANY S FISCAL YEAR ENDING SEPTEMBER 25, 2005.	Management	For	For

ISSUER NAME: QWEST COMMUNICATIONS INTERNATIONAL I MEETING DATE: 05/24/2005
TICKER: Q     SECURITY ID: 749121109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT LINDA G. ALVARADO AS A DIRECTOR	Management	For	For
1.2	ELECT CANNON Y. HARVEY AS A DIRECTOR	Management	For	For
1.3	ELECT RICHARD C. NOTEBAERT AS A DIRECTOR	Management	For	For
2	MANAGEMENT PROPOSAL - RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT AUDITOR FOR 2005 YOUR BOARD OF DIRECTORS RECOMMENDS YOU VOTE FOR ITEM 2.	Management	For	For
3	STOCKHOLDER PROPOSAL - REQUESTING WE ADOPT A POLICY THAT ALL MEMBERS OF CERTAIN COMMITTEES OF THE BOARD OF DIRECTORS SHALL BE INDEPENDENT UNDER A DEFINITION OF INDEPENDENCE ADOPTED BY THE COUNCIL OF INSTITUTIONAL INVESTORS YOUR BOARD OF DIRECTORS RECOMMENDS YOU VOTE AGAINST ITEM 3.	Shareholder	Against	Against
4	STOCKHOLDER PROPOSAL - REQUESTING WE SEEK STOCKHOLDER APPROVAL OF CERTAIN BENEFITS FOR SENIOR EXECUTIVES UNDER OUR NON-QUALIFIED PENSION PLAN OR ANY SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN YOUR BOARD OF DIRECTORS RECOMMENDS YOU VOTE AGAINST ITEM 4.	Shareholder	Against	Against
5	STOCKHOLDER PROPOSAL - REQUESTING WE ADOPT A POLICY WHEREBY, IN THE EVENT OF A SUBSTANTIAL RESTATEMENT OF FINANCIAL RESULTS, OUR BOARD SHALL REVIEW CERTAIN PERFORMANCE-BASED COMPENSATION MADE TO EXECUTIVE OFFICERS AND PURSUE LEGAL REMEDIES TO RECOVER SUCH COMPENSATION YOUR BOARD OF DIRECTORS RECOMMENDS YOU VOTE AGAINST ITEM 5.	Shareholder	Against	Against

ISSUER NAME: RAINDANCE COMMUNICATIONS, INC. MEETING DATE: 05/05/2005
TICKER: RNDC     SECURITY ID: 75086X106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT PATRICK J. LOMBARDI AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF KPMG LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE COMPANY FOR ITS FISCAL YEAR ENDING DECEMBER 31, 2005.	Management	For	For

ISSUER NAME: SBC COMMUNICATIONS INC. MEETING DATE: 04/29/2005
TICKER: SBC     SECURITY ID: 78387G103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT GILBERT F. AMELIO AS A DIRECTOR	Management	For	For
1.2	ELECT AUGUST A. BUSCH III AS A DIRECTOR	Management	For	For
1.3	ELECT MARTIN K. EBY, JR. AS A DIRECTOR	Management	For	For
1.4	ELECT JAMES A. HENDERSON AS A DIRECTOR	Management	For	For
1.5	ELECT CHARLES F. KNIGHT AS A DIRECTOR	Management	For	For
1.6	ELECT LYNN M. MARTIN AS A DIRECTOR	Management	For	For
1.7	ELECT JOHN B. MCCOY AS A DIRECTOR	Management	For	For
1.8	ELECT MARY S. METZ AS A DIRECTOR	Management	For	For
1.9	ELECT TONI REMBE AS A DIRECTOR	Management	For	For
1.10	ELECT S. DONLEY RITCHEY AS A DIRECTOR	Management	For	For
1.11	ELECT JOYCE M. ROCHE AS A DIRECTOR	Management	For	For
1.12	ELECT LAURA D'ANDREA TYSON AS A DIRECTOR	Management	For	For
1.13	ELECT PATRICIA P. UPTON AS A DIRECTOR	Management	For	For
1.14	ELECT EDWARD E. WHITACRE, JR AS A DIRECTOR	Management	For	For
2	APPROVAL OF APPOINTMENT OF INDEPENDENT AUDITORS	Management	For	For
3	APPROVAL OF STOCK PURCHASE AND DEFERRAL PLAN	Management	For	For
4	STOCKHOLDER PROPOSAL A	Shareholder	Against	Against
5	STOCKHOLDER PROPOSAL B	Shareholder	Against	Against
6	STOCKHOLDER PROPOSAL C	Shareholder	Against	Against
7	STOCKHOLDER PROPOSAL D	Shareholder	Against	For

ISSUER NAME: SPECTRASITE, INC. MEETING DATE: 05/02/2005
TICKER: SSI     SECURITY ID: 84761M104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT STEPHEN H. CLARK AS A DIRECTOR	Management	For	For
1.2	ELECT TIMOTHY G. BILTZ AS A DIRECTOR	Management	For	For
1.3	ELECT PAUL M. ALBERT, JR. AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN F. CHLEBOWSKI AS A DIRECTOR	Management	For	For
1.5	ELECT DEAN J. DOUGLAS AS A DIRECTOR	Management	For	For
1.6	ELECT PATRICIA L. HIGGINS AS A DIRECTOR	Management	For	For
1.7	ELECT SAMME L. THOMPSON AS A DIRECTOR	Management	For	For
1.8	ELECT KARI-PEKKA WILSKA AS A DIRECTOR	Management	For	For
2	TO APPROVE THE SPECTRASITE, INC. 2005 INCENTIVE PLAN.	Management	For	For
3	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2005.1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: UNITEDGLOBALCOM, INC. MEETING DATE: 11/15/2004
TICKER: UCOMA     SECURITY ID: 913247508
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT R. BENNETT AS A DIRECTOR	Management	For	For
1.2	ELECT BERNARD G. DVORAK AS A DIRECTOR	Management	For	For
1.3	ELECT DAVID B. KOFF AS A DIRECTOR	Management	For	For
2	APPROVAL OF AMENDMENT TO INCREASE NUMBER OF SHARES OF COMMON STOCK RESERVED FOR EQUITY INCENTIVE PLAN BY 20,000,000.	Management	For	Against
3	RATIFICATION OF THE SELECTION OF KPMG LLP AS INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004.	Management	For	For

ISSUER NAME: VERIZON COMMUNICATIONS INC. MEETING DATE: 05/05/2005
TICKER: VZ     SECURITY ID: 92343V104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT J.R. BARKER AS A DIRECTOR	Management	For	For
1.2	ELECT R.L. CARRION AS A DIRECTOR	Management	For	For
1.3	ELECT R.W. LANE AS A DIRECTOR	Management	For	For
1.4	ELECT S.O. MOOSE AS A DIRECTOR	Management	For	For
1.5	ELECT J. NEUBAUER AS A DIRECTOR	Management	For	For
1.6	ELECT T.H. O'BRIEN AS A DIRECTOR	Management	For	For
1.7	ELECT H.B. PRICE AS A DIRECTOR	Management	For	For
1.8	ELECT I.G. SEIDENBERG AS A DIRECTOR	Management	For	For
1.9	ELECT W.V. SHIPLEY AS A DIRECTOR	Management	For	For
1.10	ELECT J.R. STAFFORD AS A DIRECTOR	Management	For	For
1.11	ELECT R.D. STOREY AS A DIRECTOR	Management	For	For
2	RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	Management	For	For
3	CUMULATIVE VOTING	Shareholder	Against	Abstain
4	MAJORITY VOTE FOR ELECTION OF DIRECTORS	Shareholder	Against	Against
5	BOARD COMPOSITION	Shareholder	Against	Against
6	SEPARATE CHAIRMAN AND CEO	Shareholder	Against	Against
7	DIRECTORS LIABILITY	Shareholder	Against	Against
8	REPORT ON POLITICAL CONTRIBUTIONS	Shareholder	Against	Against

ISSUER NAME: VODAFONE GROUP PLC MEETING DATE: 07/27/2004
TICKER: VOD     SECURITY ID: 92857W100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO RECEIVE THE REPORT OF THE DIRECTORS AND FINANCIAL STATEMENTS	Management	For	For
2	TO APPROVE THE REMUNERATION REPORT	Management	For	For
3	TO RE-ELECT PETER BAMFORD AS A DIRECTOR	Management	For	For
4	TO RE-ELECT JULIAN HORN-SMITH AS A DIRECTOR	Management	For	For
5	TO RE-ELECT SIR DAVID SCHOLEY AS A DIRECTOR (MEMBER OF THE NOMINATIONS AND GOVERNANCE AND AUDIT COMMITTEE)1	Management	For	For
6	TO ELECT LUC VANDEVELDE AS A DIRECTOR (MEMBER OF THE REMUNERATION COMMITTEE)1	Management	For	For
7	TO APPROVE A FINAL DIVIDEND OF 1.07800 PENCE PER ORDINARY SHARE	Management	For	For
8	TO RE-APPOINT DELOITTE & TOUCHE LLP AS AUDITORS1	Management	For	For
9	TO AUTHORIZE THE AUDIT COMMITTEE TO DETERMINE THE AUDITORS REMUNERATION	Management	For	For
10	TO AUTHORIZE DONATIONS UNDER THE POLITICAL PARTIES, ELECTIONS AND REFERENDUMS ACT 2000	Management	For	For
11	TO RENEW AUTHORITY TO ALLOT SHARES UNDER ARTICLE 16.2 OF THE COMPANY S ARTICLES OF ASSOCIATION	Management	For	For
12	TO RENEW AUTHORITY TO DISAPPLY PRE-EMPTION RIGHTS UNDER ARTICLE 16.3 OF THE COMPANY S ARTICLES OF ASSOCIATION+1	Management	For	For
13	TO AUTHORIZE THE COMPANY S PURCHASE OF ITS OWN SHARES+1	Management	For	For
14	TO AUTHORIZE THE COMPANY S PURCHASE OF ITS OWN SHARES PURSUANT TO CONTINGENT PURCHASE CONTRACTS AND OFF-MARKET PURCHASES+1	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.