-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HFx+TGNFwGUHaNqRZ4d9UTftLW4ESmE4fN6AHiclz0QcTB4qSLGzJ3huIU/aXlOd iS3VVpcCOlNUWyWvRFQu9A== 0000320351-05-000008.txt : 20050418 0000320351-05-000008.hdr.sgml : 20050418 20050418100510 ACCESSION NUMBER: 0000320351-05-000008 CONFORMED SUBMISSION TYPE: N-CSR/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040229 FILED AS OF DATE: 20050418 DATE AS OF CHANGE: 20050418 EFFECTIVENESS DATE: 20050418 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 IRS NUMBER: 042732797 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: N-CSR/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-03114 FILM NUMBER: 05755537 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-1413 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE Z1C CITY: BOSTON STATE: MA ZIP: 02109 N-CSR/A 1 sela.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

AMENDMENT No. 1

to

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-3114

Fidelity Select Portfolios

(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Eric D. Roiter, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

February 29

Date of reporting period:

February 29, 2004

The following amends and restates Item 4 of Form N-CSR filed on April 28, 2004, Accession Number 0000320351-04-000010.

Item 4. Principal Accountant Fees and Services

(a) Audit Fees.

For the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Audit Fees billed by PricewaterhouseCoopers LLP (PwC) for professional services rendered for the audits of the financial statements, or services that are normally provided in connection with statutory and regulatory filings or engagements for those fiscal years, for Air Transportation Portfolio, Automotive Portfolio, Banking Portfolio, Biotechnology Portfolio, Brokerage Services and Investment Management Portfolio, Business Services and Outsourcing Portfolio, Chemicals Portfolio, Computers Portfolio, Construction and Housing Portfolio, Consumer Industries Portfolio, Cyclical Industries Portfolio, Defense and Aerospace Portfolio, Developing Communications Portfolio, Electronics Portfolio, Energy Portfolio, Energy Services Portfolio, Environmental Portfolio, Financial Services Portfolio, Food and Agriculture Portfolio, Gold Portfolio, Health Care Portfolio, Home Finance Portfolio, Industrial Equipment Portfolio, Industrial Materials Portfolio, Insurance Portfolio, Leisure Portfolio, Medical Delivery Portfolio, Medical Equipment and Systems Portfolio, Money Market Portfolio, Multimedia Portfolio, Natural Gas Portfolio, Natural Resources Portfolio, Networking and Infrastructure Portfolio, Paper and Forest Products Portfolio, Pharmaceuticals Portfolio, Retailing Portfolio, Software and Computer Services Portfolio, Technology Portfolio, Telecommunications Portfolio, Transportation Portfolio, Utilities Growth Portfolio and Wireless Portfolio (the funds) and for all funds in the Fidelity Group of Funds are shown in the table below.

Fund

2004A

2003A

Air Transportation Portfolio

$36,000

$16,000

Automotive Portfolio

$36,000

$15,000

Banking Portfolio

$37,000

$26,000

Biotechnology Portfolio

$40,000

$87,000

Brokerage Services and Investment Management Portfolio

$37,000

$25,000

Business Services and Outsourcing Portfolio

$36,000

$16,000

Chemicals Portfolio

$36,000

$16,000

Computers Portfolio

$38,000

$42,000

Construction and Housing Portfolio

$36,000

$16,000

Consumer Industries Portfolio

$36,000

$15,000

Cyclical Industries Portfolio

$36,000

$15,000

Defense and Aerospace Portfolio

$36,000

$19,000

Developing Communications Portfolio

$37,000

$33,000

Electronics Portfolio

$44,000

$134,000

Energy Portfolio

$36,000

$20,000

Energy Services Portfolio

$37,000

$26,000

Environmental Portfolio

$36,000

$15,000

Financial Services Portfolio

$37,000

$28,000

Food and Agriculture Portfolio

$36,000

$17,000

Gold Portfolio

$38,000

$22,000

Health Care Portfolio

$41,000

$73,000

Home Finance Portfolio

$37,000

$23,000

Industrial Equipment Portfolio

$36,000

$15,000

Industrial Materials Portfolio

$36,000

$15,000

Insurance Portfolio

$36,000

$17,000

Leisure Portfolio

$36,000

$20,000

Medical Delivery Portfolio

$36,000

$18,000

Medical Equipment and Systems Portfolio

$36,000

$18,000

Money Market Portfolio

$38,000

$37,000

Multimedia Portfolio

$36,000

$18,000

Natural Gas Portfolio

$36,000

$19,000

Natural Resources Portfolio

$36,000

$15,000

Networking and Infrastructure Portfolio

$36,000

$18,000

Paper and Forest Products Portfolio

$36,000

$15,000

Pharmaceuticals Portfolio

$36,000

$16,000

Retailing Portfolio

$36,000

$17,000

Software and Computer Services Portfolio

$38,000

$37,000

Technology Portfolio

$41,000

$78,000

Telecommunications Portfolio

$37,000

$27,000

Transportation Portfolio

$36,000

$16,000

Utilities Growth Portfolio

$36,000

$22,000

Wireless Portfolio

$36,000

$17,000

All funds in the Fidelity Group of Funds audited by PwC

$10,700,000

$8,500,000

A

Aggregate amounts may reflect rounding.

(b) Audit-Related Fees.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Audit-Related Fees billed by PwC for services rendered for assurance and related services to each fund that are reasonably related to the performance of the audit or review of the fund's financial statements, but not reported as Audit Fees, are shown in the table below.

Fund

2004A, B

2003 A, B

Air Transportation Portfolio

$0

$0

Automotive Portfolio

$0

$0

Banking Portfolio

$0

$0

Biotechnology Portfolio

$0

$0

Brokerage Services and Investment Management Portfolio

$0

$0

Business Services and Outsourcing Portfolio

$0

$0

Chemicals Portfolio

$0

$0

Computers Portfolio

$0

$0

Construction and Housing Portfolio

$0

$0

Consumer Industries Portfolio

$0

$0

Cyclical Industries Portfolio

$0

$0

Defense and Aerospace Portfolio

$0

$0

Developing Communications Portfolio

$0

$0

Electronics Portfolio

$0

$0

Energy Portfolio

$0

$0

Energy Services Portfolio

$0

$0

Environmental Portfolio

$0

$0

Financial Services Portfolio

$0

$0

Food and Agriculture Portfolio

$0

$0

Gold Portfolio

$0

$0

Health Care Portfolio

$0

$0

Home Finance Portfolio

$0

$0

Industrial Equipment Portfolio

$0

$0

Industrial Materials Portfolio

$0

$0

Insurance Portfolio

$0

$0

Leisure Portfolio

$0

$0

Medical Delivery Portfolio

$0

$0

Medical Equipment and Systems Portfolio

$0

$0

Money Market Portfolio

$0

$0

Multimedia Portfolio

$0

$0

Natural Gas Portfolio

$0

$0

Natural Resources Portfolio

$0

$0

Networking and Infrastructure Portfolio

$0

$0

Paper and Forest Products Portfolio

$0

$0

Pharmaceuticals Portfolio

$0

$0

Retailing Portfolio

$0

$0

Software and Computer Services Portfolio

$0

$0

Technology Portfolio

$0

$0

Telecommunications Portfolio

$0

$0

Transportation Portfolio

$0

$0

Utilities Growth Portfolio

$0

$0

Wireless Portfolio

$0

$0

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Audit-Related Fees that were billed by PwC that were required to be approved by the Audit Committee for services rendered on behalf of Fidelity Management & Research Company (FMR) and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the funds ("Fund Service Providers") for assurance and related services that relate directly to the operations and financial reporting of each fund that are reasonably related to the performance of the audit or review of the fund's financial statements, but not reported as Audit Fees, are shown in the table below.

Billed By

2004 A, B

2003A, B

PwC

$50,000

$0

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

Fees included in the audit-related category comprise assurance and related services (e.g., due diligence services) that are traditionally performed by the independent accountant. These audit-related services include due diligence related to mergers and acquisitions, accounting consultations and audits in connection with acquisitions, internal control reviews, attest services that are not required by statute or regulation and consultation concerning financial accounting and reporting standards.

(c) Tax Fees.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Tax Fees billed by PwC for professional services rendered for tax compliance, tax advice, and tax planning for each fund is shown in the table below.

Fund

2004A, B

2003A, B

Air Transportation Portfolio

$1,700

$700

Automotive Portfolio

$1,700

$700

Banking Portfolio

$1,700

$1,400

Biotechnology Portfolio

$1,700

$5,300

Brokerage Services and Investment Management Portfolio

$1,700

$1,300

Business Services and Outsourcing Portfolio

$1,700

$800

Chemicals Portfolio

$1,700

$800

Computers Portfolio

$1,700

$2,400

Construction and Housing Portfolio

$1,700

$700

Consumer Industries Portfolio

$1,700

$700

Cyclical Industries Portfolio

$1,700

$700

Defense and Aerospace Portfolio

$1,700

$1,000

Developing Communications Portfolio

$1,700

$1,900

Electronics Portfolio

$1,700

$8,400

Energy Portfolio

$1,700

$1,000

Energy Services Portfolio

$1,700

$1,400

Environmental Portfolio

$1,700

$700

Financial Services Portfolio

$1,700

$1,500

Food and Agriculture Portfolio

$1,700

$800

Gold Portfolio

$1,700

$1,100

Health Care Portfolio

$1,700

$4,400

Home Finance Portfolio

$1,700

$1,200

Industrial Equipment Portfolio

$1,700

$700

Industrial Materials Portfolio

$1,700

$700

Insurance Portfolio

$1,700

$800

Leisure Portfolio

$1,700

$1,000

Medical Delivery Portfolio

$1,700

$900

Medical Equipment and Systems Portfolio

$1,700

$900

Money Market Portfolio

$1,700

$2,100

Multimedia Portfolio

$1,700

$900

Natural Gas Portfolio

$1,700

$1,000

Natural Resources Portfolio

$1,700

$700

Networking and Infrastructure Portfolio

$1,700

$900

Paper and Forest Products Portfolio

$1,700

$700

Pharmaceuticals Portfolio

$1,700

$800

Retailing Portfolio

$1,700

$800

Software and Computer Services Portfolio

$1,700

$2,100

Technology Portfolio

$1,700

$4,700

Telecommunications Portfolio

$1,700

$1,500

Transportation Portfolio

$1,700

$700

Utilities Growth Portfolio

$1,700

$1,100

Wireless Portfolio

$1,700

$800

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Tax Fees billed by PwC that were required to be approved by the Audit Committee for professional services rendered on behalf of the Fund Service Providers for tax compliance, tax advice, and tax planning that relate directly to the operations and financial reporting of each fund is shown in the table below.

Billed By

2004A, B

2003A, B

PwC

$0

$0

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

Fees included in the Tax Fees category comprise all services performed by professional staff in the independent accountant's tax division except those services related to the audit. Typically, this category would include fees for tax compliance, tax planning, and tax advice. Tax compliance, tax advice, and tax planning services include preparation of original and amended tax returns, claims for refund and tax payment-planning services, assistance with tax audits and appeals, tax advice related to mergers and acquisitions and requests for rulings or technical advice from taxing authorities.

(d) All Other Fees.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Other Fees billed by PwC for all other non-audit services rendered to the funds is shown in the table below.

Fund

2004A, B

2003A, B

Air Transportation Portfolio

$1,200

$1,400

Automotive Portfolio

$1,100

$1,300

Banking Portfolio

$1,500

$1,800

Biotechnology Portfolio

$2,700

$3,800

Brokerage Services and Investment Management Portfolio

$1,400

$1,700

Business Services and Outsourcing Portfolio

$1,200

$1,400

Chemicals Portfolio

$1,200

$1,400

Computers Portfolio

$1,800

$2,200

Construction and Housing Portfolio

$1,200

$1,400

Consumer Industries Portfolio

$1,100

$1,300

Cyclical Industries Portfolio

$1,100

$1,300

Defense and Aerospace Portfolio

$1,400

$1,500

Developing Communications Portfolio

$1,600

$1,900

Electronics Portfolio

$3,800

$5,300

Energy Portfolio

$1,300

$1,500

Energy Services Portfolio

$1,500

$1,800

Environmental Portfolio

$1,100

$1,300

Financial Services Portfolio

$1,500

$1,800

Food and Agriculture Portfolio

$1,200

$1,400

Gold Portfolio

$1,700

$1,700

Health Care Portfolio

$2,700

$3,500

Home Finance Portfolio

$1,400

$1,700

Industrial Equipment Portfolio

$1,200

$1,300

Industrial Materials Portfolio

$1,200

$1,300

Insurance Portfolio

$1,200

$1,400

Leisure Portfolio

$1,300

$1,500

Medical Delivery Portfolio

$1,200

$1,400

Medical Equipment and Systems Portfolio

$1,400

$1,500

Money Market Portfolio

$1,600

$2,000

Multimedia Portfolio

$1,300

$1,500

Natural Gas Portfolio

$1,300

$1,500

Natural Resources Portfolio

$1,200

$1,300

Networking and Infrastructure Portfolio

$1,200

$1,400

Paper and Forest Products Portfolio

$1,100

$1,300

Pharmaceuticals Portfolio

$1,200

$1,400

Retailing Portfolio

$1,200

$1,400

Software and Computer Services Portfolio

$1,800

$2,100

Technology Portfolio

$2,900

$3,500

Telecommunications Portfolio

$1,400

$1,800

Transportation Portfolio

$1,200

$1,400

Utilities Growth Portfolio

$1,300

$1,600

Wireless Portfolio

$1,200

$1,400

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

In each of the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate Other Fees billed by PwC that were required to be approved by the Audit Committee for all other non-audit services rendered on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund is shown in the table below.

Billed By

2004A, B

2003A, B

PwC

$140,000

$210,000

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

Fees included in the All Other Fees category include services related to internal control reviews, strategy and other consulting, financial information systems design and implementation, consulting on other information systems, and other tax services unrelated to the fund.

(e) (1)

Audit Committee Pre-Approval Policies and Procedures:

The trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent accountant relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity Fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (Covered Service) are subject to approval by the Audit Committee before such service is provided. Non-audit services provided by a fund audit firm for a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund (Non-Covered Service) but that are expected to exceed $50,000 are also subject to pre-approval by the Audit Committee.

All Covered Services, as well as Non-Covered Services that are expected to exceed $50,000, must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Audit Committee to act in the Chair's absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee. Neither pre-approval nor advance notice of Non-Covered Service engagements for which fees are not expected to exceed $50,000 is required; such engagements are to be reported to the Audit Committee monthly.

(e) (2)

Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:

Audit-Related Fees:

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of each fund.

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

Tax Fees:

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of each fund.

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

All Other Fees:

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of each fund.

There were no amounts, including amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time, that were required to be approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended February 29, 2004 and February 28, 2003 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of each fund.

(f) According to PwC for the fiscal year ended February 29, 2004, the percentage of hours spent on the audit of each fund's financial statements for the most recent fiscal year that were attributed to work performed by persons who are not full-time, permanent employees of PwC is as follows:

Fund

2004

Air Transportation Portfolio

0%

Automotive Portfolio

0%

Banking Portfolio

0%

Biotechnology Portfolio

0%

Brokerage Services and Investment Management Portfolio

0%

Business Services and Outsourcing Portfolio

0%

Chemicals Portfolio

0%

Computers Portfolio

0%

Construction and Housing Portfolio

0%

Consumer Industries Portfolio

0%

Cyclical Industries Portfolio

0%

Defense and Aerospace Portfolio

0%

Developing Communications Portfolio

0%

Electronics Portfolio

0%

Energy Portfolio

0%

Energy Services Portfolio

0%

Environmental Portfolio

0%

Financial Services Portfolio

0%

Food and Agriculture Portfolio

0%

Gold Portfolio

0%

Health Care Portfolio

0%

Industrial Equipment Portfolio

0%

Industrial Materials Portfolio

0%

Insurance Portfolio

0%

Leisure Portfolio

0%

Medical Delivery Portfolio

0%

Medical Equipment and Systems Portfolio

0%

Money Market Portfolio

0%

Multimedia Portfolio

0%

Natural Gas Portfolio

0%

Natural Resources Portfolio

0%

Networking and Infrastructure Portfolio

0%

Paper and Forest Products Portfolio

0%

Pharmaceuticals Portfolio

0%

Retailing Portfolio

0%

Software and Computer Services Portfolio

0%

Technology Portfolio

0%

Telecommunications Portfolio

0%

Transportation Portfolio

0%

Utilities Growth Portfolio

0%

Wireless Portfolio

0%

(g) For the fiscal years ended February 29, 2004 and February 28, 2003, the aggregate fees billed by PwC of $2,150,000A,B and $1,800,000A,B for non-audit services rendered on behalf of the funds, FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and Fund Service Providers relating to Covered Services and Non-Covered Services are shown in the table below.

2004A,B

2003A,B

Covered Services

$300,000

$350,000

Non-Covered Services

$1,850,000

$1,450,000

A

Aggregate amounts may reflect rounding.

B

Includes amounts related to non-audit services prior to May 6, 2003 that would have been subject to pre-approval if the SEC rules relating to the pre-approval of non-audit services had been in effect at that time.

(h) The trust's Audit Committee has considered Non-Covered Services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its audit of the funds, taking into account representations from PwC, in accordance with Independence Standards Board Standard No.1, regarding its independence from the funds and their related entities.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Select Portfolios

By:

/s/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

April 15, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

April 15, 2005

By:

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

Date:

April 15, 2005

EX-99.CERT 2 sel99.htm

Exhibit EX-99.CERT

I, Christine Reynolds, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Select Portfolios;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 15, 2005

/s/Christine Reynolds

Christine Reynolds

President and Treasurer

I, Timothy F. Hayes, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Select Portfolios;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 15, 2005

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

EX-99.906 CERT 3 sel906.htm

Exhibit EX-99.906CERT

Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)

In connection with the attached Report of Fidelity Select Portfolios (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: April 15, 2005

/s/Christine Reynolds

Christine Reynolds

President and Treasurer

Dated: April 15, 2005

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

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