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 Paper and Forest Products 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: 06/30/2007

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/ KIMBERLEY MONASTERIO*
KIMBERLEY MONASTERIO, TREASURER
DATE: 08/10/2007 07:47:03 PM

*BY:  /s/ CLAIRE S. WALPOLE
CLAIRE S. WALPOLE, VICE PRESIDENT, FIDELITY MANAGEMENT & RESEARCH COMPANY, PURSUANT TO A POWER OF ATTORNEY DATED JULY 10, 2007 AND FILED HEREWITH.

VOTE SUMMARY REPORT
Select Paper and Forest Products Portfolio
07/01/2006- 06/30/2007

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: ABITIBI-CONSOLIDATED INC MEETING DATE: 05/08/2007
TICKER: --     SECURITY ID: 003924107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECT MR. JOHN Q. ANDERSON AS A DIRECTOR	Management	For	For
2	ELECT MR. HANS P. BLACK AS A DIRECTOR	Management	For	For
3	ELECT MR. JACQUES BOUGIE AS A DIRECTOR	Management	For	For
4	ELECT MR. MARLENE DAVIDGE AS A DIRECTOR	Management	For	For
5	ELECT MR. WILLIAM E. DAVIS AS A DIRECTOR	Management	For	For
6	ELECT MR. DAVID A. GALLOWAY AS A DIRECTOR	Management	For	For
7	ELECT MR. LISE LACHAPELLE AS A DIRECTOR	Management	For	For
8	ELECT MR. GARY J. LUKASSEN AS A DIRECTOR	Management	For	For
9	ELECT MR. JOHN A. TORY AS A DIRECTOR	Management	For	For
10	ELECT MR. JOHN W. WEAVER AS A DIRECTOR	Management	For	For
11	APPOINT THE AUDITORS AS SPECIFIED	Management	For	For
12	AMEND THE STOCK OPTION PLAN	Management	For	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: ALBANY INTERNATIONAL CORP. MEETING DATE: 04/13/2007
TICKER: AIN     SECURITY ID: 012348108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT FRANK R. SCHMELER AS A DIRECTOR	Management	For	For
1. 2	ELECT JOSEPH G. MORONE AS A DIRECTOR	Management	For	For
1. 3	ELECT THOMAS R. BEECHER, JR. AS A DIRECTOR	Management	For	For
1. 4	ELECT CHRISTINE L. STANDISH AS A DIRECTOR	Management	For	For
1. 5	ELECT ERLAND E. KAILBOURNE AS A DIRECTOR	Management	For	For
1. 6	ELECT JOHN C. STANDISH AS A DIRECTOR	Management	For	For
1. 7	ELECT JUHANI PAKKALA AS A DIRECTOR	Management	For	For
1. 8	ELECT PAULA H.J. CHOLMONDELEY AS A DIRECTOR	Management	For	For
1. 9	ELECT JOHN F. CASSIDY, JR. AS A DIRECTOR	Management	For	For
1. 10	ELECT EDGAR G. HOTARD AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BALL CORPORATION MEETING DATE: 04/25/2007
TICKER: BLL     SECURITY ID: 058498106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT HANNO C. FIEDLER AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JOHN F. LEHMAN AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT GEORGIA R. NELSON AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT ERIK H. VAN DER KAAY AS A DIRECTOR	Management	For	Withhold
2	PROPOSAL TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT AUDITOR FOR THE CORPORATION FOR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BEMIS COMPANY, INC. MEETING DATE: 05/03/2007
TICKER: BMS     SECURITY ID: 081437105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT NANCY P. MCDONALD AS A DIRECTOR	Management	For	For
1. 2	ELECT JEFFREY H. CURLER AS A DIRECTOR	Management	For	For
1. 3	ELECT ROGER D. O'SHAUGHNESSY AS A DIRECTOR	Management	For	For
1. 4	ELECT DAVID S. HAFFNER AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP, AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE COMPANY.	Management	For	For
3	TO VOTE UPON THE STOCKHOLDER PROPOSAL ON COMPENSATION REPORT, IF PROPERLY PRESENTED AT THE MEETING.	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BUCKEYE TECHNOLOGIES INC. MEETING DATE: 11/02/2006
TICKER: BKI     SECURITY ID: 118255108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RED CAVANEY AS A DIRECTOR	Management	For	For
1. 2	ELECT JOHN B. CROWE AS A DIRECTOR	Management	For	For
1. 3	ELECT DAVID B. FERRARO AS A DIRECTOR	Management	For	For
2	RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CANFOR CORP NEW MEETING DATE: 05/04/2007
TICKER: --     SECURITY ID: 137576104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECT MR. PETER J.G. BENTLEY AS A DIRECTOR	Management	For	For
2	ELECT MR. RONALD L. CLIFF AS A DIRECTOR	Management	For	For
3	ELECT MR. BENJAMIN C. DUSTER, IV AS A DIRECTOR	Management	For	For
4	ELECT MR. MICHAEL J. KORENBERG AS A DIRECTOR	Management	For	For
5	ELECT MR. JOHN D. (IAN) LAPEY AS A DIRECTOR	Management	For	For
6	ELECT MR. JAMES A. PATTISON AS A DIRECTOR	Management	For	For
7	ELECT MR. DONALD C. SELMAN AS A DIRECTOR	Management	For	For
8	ELECT MR. JAMES F. SHEPARD AS A DIRECTOR	Management	For	For
9	APPOINT PRICEWATERHOUSECOOPERS LLP, CHARTERED ACCOUNTANTS AS THE AUDITORS	Management	For	For
10	APPROVE THE SHAREHOLDERS RIGHT PLAN	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CANFOR PULP INCOME FD MEETING DATE: 05/01/2007
TICKER: --     SECURITY ID: 137582102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECT MR. STAN E. BRACKEN-HORROCKS AS A DIRECTOR	Management	For	For
2	ELECT MR. DONALD W. CAMPBELL AS A DIRECTOR	Management	For	Against
3	ELECT MR. CHARLES J. JAGO AS A DIRECTOR	Management	For	For
4	APPROVE THE EMPLOYEE UNIT PURCHASE PLAN AS SPECIFIED	Management	For	For
5	APPOINT PRICEWATERHOUSECOOPERS LLP, CHARTERED ACCOUNTANTS, AS THE AUDITORS FOR THE FUND	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CONSOLIDATED-TOMOKA LAND CO. MEETING DATE: 04/25/2007
TICKER: CTO     SECURITY ID: 210226106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOHN C. ADAMS, JR.* AS A DIRECTOR	Management	For	For
1. 2	ELECT BOB D. ALLEN* AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHN C. MYERS, III* AS A DIRECTOR	Management	For	For
1. 4	ELECT WILLIAM H. DAVISON** AS A DIRECTOR	Management	For	For
1. 5	ELECT JAMES E. JORDAN** AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: DELTIC TIMBER CORPORATION MEETING DATE: 04/26/2007
TICKER: DEL     SECURITY ID: 247850100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RANDOLPH C. COLEY AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT R. HUNTER PIERSON, JR. AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT J. THURSTON ROACH AS A DIRECTOR	Management	For	Withhold
2	RATIFY THE APPOINTMENT OF KPMG LLP AS AUDITORS.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GRAPHIC PACKAGING CORPORATION MEETING DATE: 05/15/2007
TICKER: GPK     SECURITY ID: 388688103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KEVIN J. CONWAY AS A DIRECTOR	Management	For	For
1. 2	ELECT JEFFREY H. COORS AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT W. TIEKEN AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HEIDELBERGER DRUCKMASCHINEN AG, HEIDELBERG MEETING DATE: 07/20/2006
TICKER: --     SECURITY ID: D3166C103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PRESENTATION OF THE FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE FY 2005/2006 WITH THE REPORT OF THE SUPERVISORY BOARD, THE GROUP FINANCIAL STATEMENTS AND GROUP ANNUAL REPORT	N/A	N/A	N/A
2	RESOLUTION ON THE APPROPRIATION OF THE DISTRIBUTABLE PROFIT OF EUR 54,365,130.50 AS FOLLOWS: PAYMENT OF A DIVIDEND OF EUR 0.65 PER NO-PAR SHARE EUR 830,673.55 SHALL BE CARRIED FORWARD EX-DIVIDEND AND PAYABLE DATE 21 JUL 2006	Management	Unknown	Take No Action
3	RATIFICATION OF THE ACTS OF THE BOARD OF MANAGING DIRECTORS	Management	Unknown	Take No Action
4	RATIFICATION OF THE ACTS OF THE SUPERVISORY BOARD	Management	Unknown	Take No Action
5	APPOINT THE AUDITORS FOR THE 2006/2007 FY: PRICEWATERHOUSECOOPERS AG, FRANKFURT	Management	Unknown	Take No Action
6	AMENDMENTS TO THE ARTICLES OF ASSOCIATION AS FOLLOWS: SECTION 8, REGARDING AUTHORIZED SIGNATORIES HAVING THE POWER TO PRESENT THE COMPANY WITHIN THE LIMITS SET BY THE BOARD OF MANAGING DIRECTORS; SECTION 9(2), REGARDING THE TERM OF OFFICE OF A COURT APPOINTED SUPERVISORY BOARD MEMBER REPRESENTING THE SHAREHOLDERS BEING STIPULATED; SECTION 12, REGARDING THE WORK AND ORGANIZATION OF THE SUPERVISORY BOARD BEING STIPULATED IN THE BOARD S INTERNAL REGULATIONS; SECTION 14(1), REGARDING TRANSACTION WHI...	Management	Unknown	Take No Action
7	AMENDMENTS TO SECTION 17 OF THE ARTICLES OF ASSOCIATION INCLUDING SHAREHOLDERS MEETINGS BEING CONVENED AT LEAST 30 DAYS BEFORE THE SHAREHOLDER DEADLINE FOR REGISTERING TO ATTEND THE MEETING, AND SHAREHOLDERS INTENDING TO ATTEND THE SHAREHOLDER S MEETING BEING OBLIGED TO REGISTER AT LEAST 7 DAYS BEFORE THE SHAREHOLDER S MEETING AND TO PROVIDE UPON REGISTRATION A PROOF OF SHAREHOLDING AS PER THE 21ST DAY PRIOR TO THE MEETING DATE	Management	Unknown	Take No Action
8	RESOLUTION ON THE AUTHORIZATION TO ISSUE CONVERTIBLE AND/OR WARRANT BONDS, THE CREATION OF CONTINGENT CAPITAL, AND THE CORRESPONDING AMENDMENT TO THE ARTICLES OF ASSOCIATION; THE BOARD OF MANAGING DIRECTORS SHALL BE AUTHORIZED, WITH THE CONSENT OF THE SUPERVISORY BOARD, TO ISSUE BEARER BONDS OF UP TO EUR 500,000,000 HAVING A TERM OF UP TO 30 YEARS AND CONFERRING CONVERTIBLE AND/OR OPTION RIGHTS FOR SHARES OF THE COMPANY, ON OR BEFORE 19 JUL 2011; SHAREHOLDERS SHALL BE GRANTED SUBSCRIPTION RIGHTS...	Management	Unknown	Take No Action
9	RESOLUTION ON THE CREATION OF AUTHORIZED CAPITAL AN D THE CORRESPONDING AMENDMENT TO THE ARTICLES OF ASSOCIATION; THE BOARD OF MANAGING DIRECTORS SHALL BE AUTHORIZED, WITH THE CONSENT OF THE SUPERVISORY BOARD, TO INCREASE THE SHARE CAPITAL BY UP TO EUR 63,782,937.60 THROUGH THE ISSUE OF NEW NO-PAR SHARES AGAINST CONTRIBUTIONS IN CASH AND/OR KIND, ON OR BEFORE 01 JUL 2009 AUTHORIZED CAPITAL 2006 ; SHAREHOLDERS SHALL BE GRANTED SUBSCRIPTION RIGHTS FOR THE ISSUE OF SHARES AGAINST CONTRIBUTIONS IN ...	Management	Unknown	Take No Action
10	RENEWAL OF THE AUTHORIZATION TO ACQUIRE OWN SHARES; THE BOARD OF MANAGING DIRECTORS SHALL BE AUTHORIZED TO ACQUIRE SHARES OF THE COMPANY OF UP TO 10% OF THE SHARE CAPITAL, AT PRICES NOT DIFFERING MORE THAN 10% FROM THE MARKET PRICE OF THE SHARES, ON OR BEFORE 19 JAN 2008; THE SHARES MAY BE DISPOSED OF IN A MANNER OTHER THAN THE STOCK EXCHANGE OR A RIGHTS OFFERING, SOLD AT A PRICE NOT MATERIALLY BELOW THEIR MARKET PRICE, USED FOR ACQUISITION PURPOSES OR WITHIN THE SCOPE OF THE COMPANY S STOCK OPT...	Management	Unknown	Take No Action
11	PLEASE NOTE THAT THE TRUE RECORD DATE FOR THIS MEETING IS 29 JUN 06 , WHEREAS THE MEETING HAS BEEN SETUP USING THE ACTUAL RECORD DATE - 1 BUSINESS DAY. THIS IS DONE TO ENSURE THAT ALL POSITIONS REPORTED ARE IN CONCURRENCE WITH THE GERMAN LAW. THANK YOU	N/A	N/A	N/A
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: INTERNATIONAL PAPER COMPANY MEETING DATE: 05/07/2007
TICKER: IP     SECURITY ID: 460146103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DAVID J. BRONCZEK AS A DIRECTOR	Management	For	For
1. 2	ELECT MARTHA F. BROOKS AS A DIRECTOR	Management	For	For
1. 3	ELECT LYNN LAVERTY ELSENHANS AS A DIRECTOR	Management	For	For
1. 4	ELECT JOHN L. TOWNSEND, III AS A DIRECTOR	Management	For	For
2	RATIFICATION OF DELOITTE & TOUCHE LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2007.	Management	For	For
3	SHAREHOLDER PROPOSAL CONCERNING MAJORITY VOTING.	Shareholder	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KADANT INC. MEETING DATE: 05/24/2007
TICKER: KAI     SECURITY ID: 48282T104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT WILLIAM A. RAINVILLE AS A DIRECTOR	Management	For	Withhold
2	APPROVAL OF THE KADANT INC. CASH INCENTIVE PLAN.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KAPSTONE PAPER & PACKAGING CORP MEETING DATE: 05/31/2007
TICKER: KPPC     SECURITY ID: 48562P103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MUHIT U. RAHMAN AS A DIRECTOR	Management	For	For
1. 2	ELECT S. JAY STEWART AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS OF THE COMPANY FOR FISCAL YEAR 2007	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KIMBERLY-CLARK CORPORATION MEETING DATE: 04/26/2007
TICKER: KMB     SECURITY ID: 494368103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: JAMES M. JENNESS	Management	For	For
2	ELECTION OF DIRECTOR: LINDA JOHNSON RICE	Management	For	For
3	ELECTION OF DIRECTOR: MARC J. SHAPIRO	Management	For	For
4	APPROVAL OF AUDITORS	Management	For	For
5	APPROVAL OF AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO ELIMINATE THE CLASSIFIED BOARD OF DIRECTORS AND TO MAKE CERTAIN TECHNICAL CHANGES	Management	For	For
6	STOCKHOLDER PROPOSAL REGARDING SUPERMAJORITY VOTING	Shareholder	Against	For
7	STOCKHOLDER PROPOSAL REGARDING ADOPTION OF GLOBAL HUMAN RIGHTS STANDARDS BASED ON INTERNATIONAL LABOR CONVENTIONS	Shareholder	Against	Abstain
8	STOCKHOLDER PROPOSAL REQUESTING A REPORT ON THE FEASIBILITY OF PHASING OUT USE OF NON-FSC CERTIFIED FIBER	Shareholder	Against	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LEE & MAN PAPER MANUFACTURING LTD MEETING DATE: 08/15/2006
TICKER: --     SECURITY ID: G5427W106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE, APPROVE AND ADOPT THE AUDITED FINANCIAL STATEMENTS AND THE REPORTS OF THE DIRECTORS AND OF THE AUDITORS OF THE COMPANY FOR THE YE 31 MAR 2006	Management	For	For
2	DECLARE A FINAL DIVIDEND FOR THE YE 31 MAR 2006	Management	For	For
3	RE-ELECT MR. LEE MAN CHUN AS AN EXECUTIVE DIRECTOR OF THE COMPANY	Management	For	For
4	RE-ELECT MR. TAN SIAK HIM ALEXANDER AS AN EXECUTIVE DIRECTOR OF THE COMPANY	Management	For	For
5	ELECT MR. LI KING WAI ROSS AS AN EXECUTIVE DIRECTOR OF THE COMPANY	Management	For	For
6	AUTHORIZE THE BOARD OF DIRECTORS OF THE COMPANY TO FIX THE REMUNERATION OF ALL DIRECTORS OF THE COMPANY, INCLUDING THOSE WHO ARE RE-ELECTED AT THE AGM, PROVIDED THAT THE TOTAL AMOUNT OF HKD 6,000,000 FOR THE YE 31 MAR 2007 AND BONUSES IN FAVOUR OF THE EXECUTIVE DIRECTORS TO BE DECIDED BY THE MAJORITY OF THE BOARD OF DIRECTORS OF THE COMPANY PROVIDED THAT THE TOTAL AMOUNT OF BONUS PAYABLE TO ALL THE DIRECTORS IN RESPECT OF ANY ONE FY SHALL NOT EXCEED 10% OF THE CONSOLIDATED PROFIT AFTER TAXATION ...	Management	For	For
7	RE-APPOINT MESSRS. DELOITTE TOUCHE AS THE AUDITORS FOR THE ENSUING YEAR AND AUTHORIZE THE BOARD OF DIRECTORS OF THE COMPANY TO FIX THEIR REMUNERATION	Management	For	For
8	AUTHORIZE THE DIRECTORS OF THE COMPANY TO ALLOT, ISSUE AND DEAL WITH ADDITIONAL SHARES IN THE CAPITAL OF THE COMPANY AND MAKE OR GRANT OFFERS, AGREEMENTS AND OPTIONS DURING AND AFTER THE RELEVANT PERIOD, NOT EXCEEDING THE AGGREGATE OF A) 20% OF THE AGGREGATE NOMINAL AMOUNT OF THE ISSUED SHARE CAPITAL OF THE COMPANY, OTHERWISE THAN PURSUANT TO A RIGHTS ISSUE; OR THE EXERCISE OF SUBSCRIPTION RIGHTS UNDER THE SHARE OPTION SCHEME OF THE COMPANY ADOPTED ON 11 SEP 2003; AUTHORITY EXPIRES THE EARLIER ...	Management	For	Abstain
9	AUTHORIZE THE BOARD OF DIRECTORS OF THE COMPANY TO PURCHASE ITS OWN SHARES DURING THE RELEVANT PERIOD, SUBJECT TO AND IN ACCORDANCE WITH ALL APPLICABLE LAWS AND THE REQUIREMENTS OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE, NOT EXCEEDING 10% OF THE AGGREGATE NOMINAL AMOUNT OF THE ISSUED SHARE CAPITAL; AUTHORITY EXPIRES THE EARLIER OF THE CONCLUSION OF THE NEXT AGM OF THE COMPANY OR THE EXPIRATION OF THE PERIOD WITHIN WHICH THE NEXT AGM OF THE COMPANY IS REQUIRED BY THE...	Management	For	For
10	APPROVE, CONDITIONAL UPON THE PASSING OF RESOLUTION 3.II, TO ADD THE AGGREGATE NOMINAL AMOUNT OF THE SHARE CAPITAL OF THE COMPANY REPURCHASED BY THE COMPANY PURSUANT TO RESOLUTION 3.II, TO THE AGGREGATE NOMINAL AMOUNT OF THE SHARE CAPITAL OF THE COMPANY THAT MAY BE ALLOTTED BY THE BOARD OF DIRECTORS OF THE COMPANY PURSUANT TO RESOLUTION 3.I	Management	For	For
11	AUTHORIZE THE BOARD OF DIRECTORS OF THE COMPANY SUBJECT TO AND IN ACCORDANCE WITH ALL THE APPLICABLE LAWS AND THE REQUIREMENTS OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE TO PURCHASE THE ZERO COUPON CONVERTIBLE BONDS DUE 2011 ISSUED IN AN AGGREGATE PRINCIPAL AMOUNT OF HKD 1,000 MILLION BY THE COMPANY ON 16 JAN 2006 ; THE AGGREGATE PRINCIPAL AMOUNT OF THE CONVERTIBLE BONDS OF THE COMPANY TO BE PURCHASED BY THE COMPANY SHALL NOT EXCEED 10% OF THE AGGREGATE OUTSTANDING P...	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LEE & MAN PAPER MANUFACTURING LTD MEETING DATE: 10/06/2006
TICKER: --     SECURITY ID: G5427W106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE: THE TRANSACTIONS CONTEMPLATED UNDER THE NEW STEAM AGREEMENT THE NEWSTEAM AGREEMENT DATED 25 AUG 2006 BETWEEN LEE & MAN INDUSTRIAL MANUFACTURING LIMITED AND DONGGUAN LEE & MAN PAPER FACTORY CO., LTD. IN RELATION TO THE PROVISION OF STEAM, INCLUDING, WITHOUT LIMITATION, TO THE CAPS OF THE TRANSACTIONS UNDER THE NEW STEAM AGREEMENT AS SPECIFIED ; AND THE TRANSACTIONS CONTEMPLATED UNDER THE NEW FINISHED GOODS SUPPLY AGREEMENT THE NEW FINISHED GOODS AGREEMENT DATED 25 AUG 2006 BETWEEN L...	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LONGVIEW FIBRE COMPANY MEETING DATE: 07/14/2006
TICKER: LFB     SECURITY ID: 543213102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO TAKE ALL ACTION NECESSARY TO PROVIDE FOR THE CALLING OF A SPECIAL MEETING	Shareholder	Unknown	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LONGVIEW FIBRE COMPANY MEETING DATE: 04/19/2007
TICKER: LFB     SECURITY ID: 543213102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO APPROVE THE AGREEMENT AND PLAN OF MERGER, DATED AS OF FEBRUARY 2, 2007, AS AMENDED (THE MERGER AGREEMENT ), BY AND AMONG LONGVIEW FIBRE COMPANY ( LONGVIEW ), BROOKFIELD ASSET MANAGEMENT INC. AND HORIZON ACQUISITION CO. ( SUB ) AND THE TRANSACTIONS CONTEMPLATED THEREBY, INCLUDING THE MERGER, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT.	Management	For	For
2	TO POSTPONE OR ADJOURN THE SPECIAL MEETING TO A LATER DATE TO SOLICIT ADDITIONAL PROXIES IN FAVOR OF THE APPROVAL OF THE MERGER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED THEREBY, INCLUDING THE MERGER, IF THERE ARE NOT SUFFICIENT VOTES FOR SUCH APPROVAL AT THE TIME OF THE SPECIAL MEETING.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LOUISIANA-PACIFIC CORPORATION MEETING DATE: 05/03/2007
TICKER: LPX     SECURITY ID: 546347105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT LIZANNE C. GOTTUNG AS A DIRECTOR	Management	For	For
1. 2	ELECT DUSTAN E. MCCOY AS A DIRECTOR	Management	For	For
1. 3	ELECT COLIN D. WATSON AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF DELOITTE & TOUCHE LLP AS LP S INDEPENDENT AUDITORS FOR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: MASISA S.A. MEETING DATE: 04/27/2007
TICKER: MYS     SECURITY ID: 574800108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO (I) REVIEW MASISA S OPERATING AND FINANCIAL RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006, (II) EXAMINE THE EXTERNAL AUDIT REPORT PREPARED BY PRICEWATERHOUSECOOPERS, (III) APPROVE MASISA S ANNUAL REPORT, AND (IV) APPROVE BALANCE SHEET AND INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS.	Management	For	For
2	TO APPROVE THE ANNUAL COMPENSATION OF MASISA S BOARD OF DIRECTORS.	Management	For	For
3	TO APPROVE THE ANNUAL COMPENSATION AND EXPENSE BUDGET FOR THE DIRECTORS COMMITTEE.	Management	For	For
4	TO APPROVE THE RECOMMENDATION OF THE BOARD OF DIRECTORS FOR MASISA S EXTERNAL AUDITORS AND RISK CLASSIFICATION AGENCIES.	Management	For	For
5	TO (I) RATIFY THE DISTRIBUTION OF MASISA S NET INCOME EARNED DURING THE FISCAL YEAR ENDED DECEMBER 31, 2006, (II) PRESENT MASISA S DIVIDEND POLICY, AND (III) PRESENT MASISA S SAFETY MEASURES AND PROCEDURES FOR THE DISTRIBUTION OF SUCH DIVIDENDS.	Management	For	For
6	TO PRESENT THE AGREEMENTS ADOPTED BY THE BOARD OF DIRECTORS IN ACCORDANCE WITH ARTICLE 44 OF THE PUBLICLY-HELD CORPORATIONS LAW OF CHILE.	Management	Unknown	For
7	TO SELECT AN APPROPRIATE NEWSPAPER IN WHICH NOTICES OF FUTURE MASISA SHAREHOLDERS MEETINGS.	Management	For	For
8	TO TRANSACT SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE ORDINARY SHAREHOLDERS MEETING, INCLUDING, BUT NOT LIMITED TO, THE ANNUAL COMPENSATION AND EXPENSE BUDGET FOR MASISA S AUDIT AND COMPENSATION COMMITTEES.	Management	For	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: MEADWESTVACO CORPORATION MEETING DATE: 04/30/2007
TICKER: MWV     SECURITY ID: 583334107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JAMES M. KILTS AS A DIRECTOR	Management	For	For
1. 2	ELECT DOUGLAS S. LUKE AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT C. MCCORMACK AS A DIRECTOR	Management	For	For
1. 4	ELECT EDWARD M. STRAW AS A DIRECTOR	Management	For	For
1. 5	ELECT JANE L. WARNER AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2007.	Management	For	For
3	STOCKHOLDER PROPOSAL TO AMEND THE COMPANY S CORPORATE GOVERNANCE DOCUMENTS TO PROVIDE FOR THE ELECTION OF DIRECTORS BY MAJORITY VOTE.	Shareholder	Against	For
4	STOCKHOLDER PROPOSAL TO REDEEM THE COMPANY S SHAREHOLDER RIGHTS PLAN.	Shareholder	Against	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: MERCER INTERNATIONAL INC. MEETING DATE: 06/12/2007
TICKER: MERC     SECURITY ID: 588056101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JIMMY S.H. LEE AS A DIRECTOR	Management	For	For
1. 2	ELECT KENNETH A. SHIELDS AS A DIRECTOR	Management	For	For
1. 3	ELECT WILLIAM D. MCCARTNEY AS A DIRECTOR	Management	For	For
1. 4	ELECT GUY W. ADAMS AS A DIRECTOR	Management	For	For
1. 5	ELECT ERIC LAURITZEN AS A DIRECTOR	Management	For	For
1. 6	ELECT GRAEME WITTS AS A DIRECTOR	Management	For	For
1. 7	ELECT GEORGE MALPASS AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT AUDITORS	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: METROLOGIC INSTRUMENTS, INC. MEETING DATE: 12/20/2006
TICKER: MTLG     SECURITY ID: 591676101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO APPROVE THE AGREEMENT AND PLAN OF MERGER, DATED AS OF SEPTEMBER 12, 2006, BY AND BETWEEN METEOR HOLDING CORPORATION, METEOR MERGER CORPORATION AND METROLOGIC INSTRUMENTS, INC.	Management	For	For
2	TO APPROVE THE ADJOURNMENT OF THE SPECIAL MEETING, IF NECESSARY, TO SOLICIT ADDITIONAL PROXIES IF THERE ARE INSUFFICIENT VOTES AT THE TIME OF THE SPECIAL MEETING TO APPROVE PROPOSAL 1.	Management	For	For
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ISSUER NAME: NEENAH PAPER, INC. MEETING DATE: 05/14/2007
TICKER: NP     SECURITY ID: 640079109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT SEAN T. ERWIN* AS A DIRECTOR	Management	For	For
1. 2	ELECT EDWARD GRZEDZINSKI* AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHN F. MCGOVERN* AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF NEENAH PAPER, INC. FOR THE FISCAL YEAR ENDING 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: NINE DRAGONS PAPER (HOLDINGS) LTD MEETING DATE: 11/17/2006
TICKER: --     SECURITY ID: G65318100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE AND APPROVE THE AUDITED FINANCIAL STATEMENTS AND THE REPORTS OF THE DIRECTORS AND THE AUDITORS FOR THE YE 30 JUN 2006	Management	For	For
2	DECLARE THE FINAL DIVIDEND FOR THE YE 30 JUN 2006	Management	For	For
3	RE-ELECT MS. CHEUNG YAN AS A DIRECTOR	Management	For	For
4	RE-ELECT MR. LIU MING CHUNG AS A DIRECTOR	Management	For	For
5	RE-ELECT MR. ZHANG CHENG FEI AS A DIRECTOR	Management	For	For
6	RE-ELECT MS. GAO JING AS A DIRECTOR	Management	For	For
7	RE-ELECT MR. WANG HAI YING AS A DIRECTOR	Management	For	For
8	RE-ELECT MR. LAU CHUN SHUN AS A DIRECTOR	Management	For	For
9	RE-ELECT MS. TAM WAI CHU, MARIA AS A DIRECTOR	Management	For	For
10	RE-ELECT MR. CHUNG SHUI MING, TIMPSON AS A DIRECTOR	Management	For	For
11	RE-ELECT DR. CHENG CHI PANG AS A DIRECTOR	Management	For	For
12	RE-ELECT MR. WANG HONG BO AS A DIRECTOR	Management	For	For
13	APPROVE TO FIX THE DIRECTORS REMUNERATION	Management	For	For
14	RE-APPOINT THE AUDITORS AND AUTHORIZE THE BOARD OF DIRECTORS TO FIX THEIR REMUNERATION	Management	For	For
15	AUTHORIZE THE DIRECTORS OF THE COMPANY TO ALLOT, ISSUE AND DEAL WITH ADDITIONAL SHARES IN THE CAPITAL OF THE COMPANY AND MAKE OR GRANT OFFERS, AGREEMENTS AND OPTIONS INCLUDING WARRANTS, BONDS AND DEBENTURES CONVERTIBLE INTO SHARES DURING AND AFTER THE RELEVANT PERIOD, NOT EXCEEDING 20% OF THE AGGREGATE NOMINAL AMOUNT OF THE ISSUED SHARE CAPITAL OF THE COMPANY, OTHERWISE THAN PURSUANT TO A RIGHTS ISSUE OR THE EXERCISE OF SUBSCRIPTION OR CONVERSION RIGHTS ATTACHED TO ANY WARRANTS OR SECURITIES O...	Management	For	Abstain
16	AUTHORIZE THE DIRECTORS OF THE COMPANY TO REPURCHASE SHARES OF THE COMPANY DURING THE RELEVANT PERIOD, ON THE STOCK EXCHANGE OF HONG KONG LIMITED STOCK EXCHANGE OR ANY OTHER STOCK EXCHANGE ON WHICH THE SHARES OF THE COMPANY HAVE BEEN OR MAY BE LISTED AND RECOGNIZED BY THE SECURITIES AND FUTURES COMMISSION AND THE STOCK EXCHANGE FOR SUCH PURPOSES, SUBJECT TO AND IN ACCORDANCE WITH ALL APPLICABLE LAWS AND THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE OR ANY OTHER STOCK EXCH...	Management	For	For
17	APPROVE, CONDITIONAL UPON THE PASSING OF RESOLUTIONS 5.A AND 5.B, TO ADD THE AGGREGATE NOMINAL AMOUNT OF THE SHARE CAPITAL OF THE COMPANY REPURCHASED BY THE COMPANY PURSUANT TO RESOLUTION 5.B, TO THE AGGREGATE NOMINAL AMOUNT OF THE SHARE CAPITAL OF THE COMPANY THAT MAY BE ALLOTTED PURSUANT TO RESOLUTION 5.A	Management	For	For
18	TRANSACT ANY OTHER BUSINESS	N/A	N/A	N/A
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: NINE DRAGONS PAPER (HOLDINGS) LTD MEETING DATE: 11/17/2006
TICKER: --     SECURITY ID: G65318100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE GRANT OF AN OPTION TO MS. CHEUNG YAN UNDER THE SHARE OPTION SCHEME OF THE COMPANY, ADOPTED ON 12 FEB 2006, WHICH WOULD ENTITLE HER TO SUBSCRIBE 41,500,000 SHARES OF HKD 0.10 EACH IN THE SHARE CAPITAL OF THE COMPANY AT HKD 9.8365 PER SHARE AND ON TERMS AND CONDITIONS AS SPECIFIED; AND AUTHORIZE ANY ONE DIRECTOR OF THE COMPANY TO DO ALL SUCH ACTS AND/OR EXECUTE ALL SUCH DOCUMENTS AS MAY BE NECESSARY TO GIVE FULL EFFECT TO THE GRANT AND EXERCISE OF THE OPTIONS	Management	For	Against
2	APPROVE THE GRANT OF AN OPTION TO MR. LIU MING CHUNG UNDER THE SHARE OPTION SCHEME OF THE COMPANY, ADOPTED ON 12 FEB 2006, WHICH WOULD ENTITLE HIM TO SUBSCRIBE 41,500,000 SHARES OF HKD 0.10 EACH IN THE SHARE CAPITAL OF THE COMPANY AT HKD 9.8365 PER SHARE AND ON TERMS AND CONDITIONS AS SPECIFIED; AND AUTHORIZE ANY ONE DIRECTOR OF THE COMPANY TO DO ALL SUCH ACTS AND/OR EXECUTE ALL SUCH DOCUMENTS AS MAY BE NECESSARY TO GIVE FULL EFFECT TO THE GRANT AND EXERCISE OF THE OPTIONS	Management	For	Against
3	APPROVE THE GRANT OF AN OPTION TO MR. ZHANG CHENG FEI UNDER THE SHARE OPTION SCHEME OF THE COMPANY, ADOPTED ON 12 FEB 2006, WHICH WOULD ENTITLE HIM TO SUBSCRIBE 41,500,000 SHARES OF HKD 0.10 EACH IN THE SHARE CAPITAL OF THE COMPANY AT HKD 9.8365 PER SHARE AND ON TERMS AND CONDITIONS AS SPECIFIED; AND AUTHORIZE ANY ONE DIRECTOR OF THE COMPANY TO DO ALL SUCH ACTS AND/OR EXECUTE ALL SUCH DOCUMENTS AS MAY BE NECESSARY TO GIVE FULL EFFECT TO THE GRANT AND EXERCISE OF THE OPTIONS	Management	For	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: OWENS-ILLINOIS, INC. MEETING DATE: 05/09/2007
TICKER: OI     SECURITY ID: 690768403
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ALBERT P.L. STROUCKEN AS A DIRECTOR	Management	For	For
1. 2	ELECT DENNIS K. WILLIAMS AS A DIRECTOR	Management	For	For
1. 3	ELECT THOMAS L. YOUNG AS A DIRECTOR	Management	For	For
2	RATIFY THE SELECTION OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: P.H. GLATFELTER COMPANY MEETING DATE: 05/03/2007
TICKER: GLT     SECURITY ID: 377316104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KATHLEEN A. DAHLBERG AS A DIRECTOR	Management	For	For
1. 2	ELECT RICHARD C. ILL AS A DIRECTOR	Management	For	For
1. 3	ELECT LEE C. STEWART AS A DIRECTOR	Management	For	For
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ISSUER NAME: PACKAGING CORPORATION OF AMERICA MEETING DATE: 05/24/2007
TICKER: PKG     SECURITY ID: 695156109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT HENRY F. FRIGON AS A DIRECTOR	Management	For	For
1. 2	ELECT LOUIS A. HOLLAND AS A DIRECTOR	Management	For	For
1. 3	ELECT SAMUEL M. MENCOFF AS A DIRECTOR	Management	For	For
1. 4	ELECT ROGER B. PORTER AS A DIRECTOR	Management	For	For
1. 5	ELECT THOMAS S. SOULELES AS A DIRECTOR	Management	For	For
1. 6	ELECT PAUL T. STECKO AS A DIRECTOR	Management	For	For
1. 7	ELECT RAYFORD K. WILLIAMSON AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY APPOINTMENT OF ERNST & YOUNG LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PLUM CREEK TIMBER COMPANY, INC. MEETING DATE: 05/02/2007
TICKER: PCL     SECURITY ID: 729251108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: RICK R. HOLLEY	Management	For	For
2	ELECTION OF DIRECTOR: IAN B. DAVIDSON	Management	For	For
3	ELECTION OF DIRECTOR: ROBIN JOSEPHS	Management	For	For
4	ELECTION OF DIRECTOR: JOHN G. MCDONALD	Management	For	For
5	ELECTION OF DIRECTOR: ROBERT B. MCLEOD	Management	For	For
6	ELECTION OF DIRECTOR: JOHN F. MORGAN, SR.	Management	For	For
7	ELECTION OF DIRECTOR: JOHN H. SCULLY	Management	For	For
8	ELECTION OF DIRECTOR: STEPHEN C. TOBIAS	Management	For	For
9	ELECTION OF DIRECTOR: CARL B. WEBB	Management	For	For
10	ELECTION OF DIRECTOR: MARTIN A. WHITE	Management	For	For
11	PROPOSAL TO RATIFY APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS FOR 2007.	Management	For	For
12	PROPOSAL RELATING TO DISCLOSURE OF THE COMPANY S POLITICAL CONTRIBUTION POLICIES AND CERTAIN OF ITS POLITICAL CONTRIBUTION ACTIVITIES.	Shareholder	Against	Abstain
13	PROPOSAL RELATING TO THE COMPANY S LONG-TERM INCENTIVE AND ANNUAL INCENTIVE COMPENSATION.	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: POPE & TALBOT, INC. MEETING DATE: 05/10/2007
TICKER: POP     SECURITY ID: 732827100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MICHAEL FLANNERY AS A DIRECTOR	Management	For	For
1. 2	ELECT ROBERT G. FUNARI AS A DIRECTOR	Management	For	For
1. 3	ELECT J. KEITH MATHENEY AS A DIRECTOR	Management	For	For
2	THE PROPOSAL TO RATIFY THE SELECTION OF KPMG LLP TO CONTINUE AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: POTLATCH CORPORATION MEETING DATE: 05/07/2007
TICKER: PCH     SECURITY ID: 737630103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MICHAEL J. COVEY AS A DIRECTOR	Management	For	For
1. 2	ELECT GREGORY L. QUESNEL AS A DIRECTOR	Management	For	For
1. 3	ELECT MICHAEL T. RIORDAN AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF INDEPENDENT AUDITOR.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: RAYONIER INC. MEETING DATE: 05/17/2007
TICKER: RYN     SECURITY ID: 754907103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT C DAVID BROWN, II AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT THOMAS I. MORGAN AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT LEE M. THOMAS AS A DIRECTOR	Management	For	Withhold
2	APPROVAL OF AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED ARTICLES OF INCORPORATION TO REQUIRE A MAJORITY VOTE FOR THE ELECTION OF DIRECTORS	Management	For	For
3	APPROVAL OF CERTAIN AMENDMENTS TO THE 2004 RAYONIER INCENTIVE STOCK AND MANAGEMENT BONUS PLAN	Management	For	Against
4	RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SCHWEITZER-MAUDUIT INTERNATIONAL, IN MEETING DATE: 04/26/2007
TICKER: SWM     SECURITY ID: 808541106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT WAYNE H. DEITRICH AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT LARRY B. STILLMAN AS A DIRECTOR	Management	For	Withhold
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ISSUER NAME: SEALED AIR CORPORATION MEETING DATE: 05/18/2007
TICKER: SEE     SECURITY ID: 81211K100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF HANK BROWN AS A DIRECTOR.	Management	For	For
2	ELECTION OF MICHAEL CHU AS A DIRECTOR.	Management	For	For
3	ELECTION OF LAWRENCE R. CODEY AS A DIRECTOR.	Management	For	For
4	ELECTION OF T.J. DERMOT DUNPHY AS A DIRECTOR.	Management	For	For
5	ELECTION OF CHARLES F. FARRELL, JR. AS A DIRECTOR.	Management	For	For
6	ELECTION OF WILLIAM V. HICKEY AS A DIRECTOR.	Management	For	For
7	ELECTION OF JACQUELINE B. KOSECOFF AS A DIRECTOR.	Management	For	For
8	ELECTION OF KENNETH P. MANNING AS A DIRECTOR.	Management	For	For
9	ELECTION OF WILLIAM J. MARINO AS A DIRECTOR.	Management	For	For
10	RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE INDEPENDENT AUDITOR FOR THE YEAR ENDING DECEMBER 31, 2007.	Management	For	For
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ISSUER NAME: SILGAN HOLDINGS INC. MEETING DATE: 05/31/2007
TICKER: SLGN     SECURITY ID: 827048109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT R. PHILIP SILVER AS A DIRECTOR	Management	For	For
1. 2	ELECT WILLIAM C. JENNINGS AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SMURFIT-STONE CONTAINER CORPORATION MEETING DATE: 05/09/2007
TICKER: SSCC     SECURITY ID: 832727101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JAMES R. BORIS AS A DIRECTOR	Management	For	For
1. 2	ELECT CONNIE K. DUCKWORTH AS A DIRECTOR	Management	For	For
1. 3	ELECT ALAN E. GOLDBERG AS A DIRECTOR	Management	For	For
1. 4	ELECT WILLIAM T. LYNCH, JR. AS A DIRECTOR	Management	For	For
1. 5	ELECT PATRICK J. MOORE AS A DIRECTOR	Management	For	For
1. 6	ELECT JAMES J. O'CONNOR AS A DIRECTOR	Management	For	For
1. 7	ELECT JERRY K. PEARLMAN AS A DIRECTOR	Management	For	For
1. 8	ELECT THOMAS A. REYNOLDS, III AS A DIRECTOR	Management	For	For
1. 9	ELECT EUGENE C. SIT AS A DIRECTOR	Management	For	For
1. 10	ELECT WILLIAM D. SMITHBURG AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SONOCO PRODUCTS COMPANY MEETING DATE: 04/18/2007
TICKER: SON     SECURITY ID: 835495102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT F.L.H. COKER AS A DIRECTOR	Management	For	For
1. 2	ELECT C.C. FORT AS A DIRECTOR	Management	For	For
1. 3	ELECT J.H. MULLIN, III AS A DIRECTOR	Management	For	For
1. 4	ELECT T.E. WHIDDON AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TEMPLE-INLAND INC. MEETING DATE: 05/04/2007
TICKER: TIN     SECURITY ID: 879868107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DONALD M. CARLTON AS A DIRECTOR	Management	For	For
1. 2	ELECT E. LINN DRAPER, JR. AS A DIRECTOR	Management	For	For
1. 3	ELECT KENNETH M. JASTROW, II AS A DIRECTOR	Management	For	For
1. 4	ELECT JAMES A. JOHNSON AS A DIRECTOR	Management	For	For
2	TO AMEND ARTICLE III, SECTION 2 OF OUR BY-LAWS TO PROVIDE THAT DIRECTORS WILL BE ELECTED BY THE MAJORITY VOTE OF OUR STOCKHOLDERS.	Management	For	For
3	TO AMEND ARTICLE V OF OUR CERTIFICATE OF INCORPORATION TO ELIMINATE CERTAIN SUPERMAJORITY VOTE REQUIREMENTS.	Management	For	For
4	TO AMEND ARTICLE VI, SECTION 3 OF OUR CERTIFICATE OF INCORPORATION TO PROVIDE THAT DIRECTORS APPOINTED TO FILL VACANCIES OR NEWLY CREATED DIRECTORSHIPS WILL BE SUBJECT TO ELECTION AT THE NEXT ANNUAL MEETING.	Management	For	For
5	TO RATIFY THE AUDIT COMMITTEE S APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR 2007.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: THE MCGRAW-HILL COMPANIES, INC. MEETING DATE: 04/25/2007
TICKER: MHP     SECURITY ID: 580645109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT PEDRO ASPE AS A DIRECTOR	Management	For	For
1. 2	ELECT ROBERT P. MCGRAW AS A DIRECTOR	Management	For	For
1. 3	ELECT H. OCHOA-BRILLEMBOURG AS A DIRECTOR	Management	For	For
1. 4	ELECT EDWARD B. RUST, JR. AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2007.	Management	For	For
3	SHAREHOLDER PROPOSAL REQUESTING THE ANNUAL ELECTION OF EACH DIRECTOR.	Shareholder	Against	For
4	SHAREHOLDER PROPOSAL REQUESTING ADOPTION OF A SIMPLE MAJORITY VOTE.	Shareholder	Against	For
5	SHAREHOLDER PROPOSAL REQUESTING PUBLIC DISCLOSURE OF CORPORATE POLICIES AND PROCEDURES REGARDING POLITICAL CONTRIBUTIONS AND THE AMOUNT OF SUCH CONTRIBUTIONS.	Shareholder	Against	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: THE PROCTER & GAMBLE COMPANY MEETING DATE: 10/10/2006
TICKER: PG     SECURITY ID: 742718109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT NORMAN R. AUGUSTINE AS A DIRECTOR	Management	For	For
1. 2	ELECT A.G. LAFLEY AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHNATHAN A. RODGERS AS A DIRECTOR	Management	For	For
1. 4	ELECT JOHN F. SMITH, JR. AS A DIRECTOR	Management	For	For
1. 5	ELECT MARGARET C. WHITMAN AS A DIRECTOR	Management	For	For
2	APPROVE AMENDMENT TO THE CODE OF REGULATIONS TO DECREASE THE AUTHORIZED NUMBER OF DIRECTORS ON THE BOARD	Management	For	For
3	RATIFY APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	Management	For	For
4	REAPPROVE AND AMEND THE MATERIAL TERMS OF THE PERFORMANCE CRITERIA UNDER THE PROCTER & GAMBLE 2001 STOCK AND INCENTIVE COMPENSATION PLAN	Management	For	For
5	SHAREHOLDER PROPOSAL - AWARD NO FUTURE STOCK OPTIONS	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: WAUSAU PAPER CORPORATION MEETING DATE: 04/19/2007
TICKER: WPP     SECURITY ID: 943315101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ANDREW N. BAUR AS A DIRECTOR	Management	For	For
1. 2	ELECT DENNIS J. KUESTER AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: WEST FRASER TIMBER LTD MEETING DATE: 04/25/2007
TICKER: --     SECURITY ID: 952845105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECT MR. HENRY H. KETCHAM AS A DIRECTOR	Management	For	For
2	ELECT MR. CLARK S. BINKLEY AS A DIRECTOR	Management	For	For
3	ELECT MR. J. DUNCAN GIBSON AS A DIRECTOR	Management	For	For
4	ELECT MR. WILLIAM H. KETCHAM AS A DIRECTOR	Management	For	For
5	ELECT MR. WILLIAM P. KETCHAM AS A DIRECTOR	Management	For	For
6	ELECT MR. HARALD H. LUDWIG AS A DIRECTOR	Management	For	Against
7	ELECT MR. BRIAN F. MACNEILL AS A DIRECTOR	Management	For	For
8	ELECT MR. ROBERT L. PHILLIPS AS A DIRECTOR	Management	For	For
9	ELECT MS. JANICE G. RENNIE AS A DIRECTOR	Management	For	For
10	APPOINT PRICEWATERHOUSECOOPERS LLP, CHARTERED ACCOUNTANTS, AS AUDITOR OF THE COMPANY AT A REMUNERATION TO BE FIXED BY THE BOARD OF DIRECTORS OF THE COMPANY	Management	For	For
11	APPROVE TO INCREASE THE NUMBER OF COMMON SHARES THAT MAY BE ISSUED UNDER THE STOCK OPTION PLAN	Management	For	Against
12	AMEND THE STOCK OPTION PLAN TO PROVIDE FOR LIMITS ON THE NUMBER OF OPTIONS ISSUED TO INSIDERS, RESTRICTIONS ON FURTHER AMENDMENTS WITHOUT SHAREHOLDER APPROVAL, AUTOMATIC EXTENSIONS FOR OPTIONS EXPIRING DURING OR IMMEDIATELY AFTER THE COMPANY S SECURITIES TRADING BLACKOUT PERIODS AND INCIDENTAL AMENDMENTS	Management	For	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: WEYERHAEUSER COMPANY MEETING DATE: 04/19/2007
TICKER: WY     SECURITY ID: 962166104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT STEVEN R. ROGEL AS A DIRECTOR	Management	For	For
1. 2	ELECT DEBRA A. CAFARO AS A DIRECTOR	Management	For	For
1. 3	ELECT RICHARD H. SINKFIELD AS A DIRECTOR	Management	For	For
1. 4	ELECT D. MICHAEL STEUERT AS A DIRECTOR	Management	For	For
1. 5	ELECT JAMES N. SULLIVAN AS A DIRECTOR	Management	For	For
1. 6	ELECT KIM WILLIAMS AS A DIRECTOR	Management	For	For
2	SHAREHOLDER PROPOSAL ON POLITICAL CONTRIBUTIONS	Shareholder	Against	Abstain
3	SHAREHOLDER PROPOSAL ON MAJORITY VOTE	Shareholder	Against	For
4	SHAREHOLDER PROPOSAL ON WOOD SUPPLY	Shareholder	Against	Abstain
5	APPROVAL, ON AN ADVISORY BASIS, OF THE APPOINTMENT OF AUDITORS	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

POWER OF ATTORNEY

I, the undersigned Treasurer of the following investment companies:

Colchester Street Trust Fidelity Aberdeen Street Trust Fidelity Advisor Series I Fidelity Advisor Series II Fidelity Advisor Series IV Fidelity Advisor Series VII Fidelity Advisor Series VIII Fidelity Beacon Street Trust Fidelity Boylston Street Trust Fidelity California Municipal Trust Fidelity California Municipal Trust II Fidelity Capital Trust Fidelity Central Investment Portfolios LLC Fidelity Central Investment Portfolios II LLC Fidelity Charles Street Trust Fidelity Commonwealth Trust Fidelity Concord Street Trust Fidelity Congress Street Trust Fidelity Contrafund Fidelity Court Street Trust Fidelity Court Street Trust II Fidelity Covington Trust Fidelity Destiny Portfolios Fidelity Devonshire Trust Fidelity Exchange Fund Fidelity Financial Trust Fidelity Fixed-Income Trust Fidelity Garrison Street Trust Fidelity Hanover Street Trust Fidelity Hastings Street Trust Fidelity Hereford Street Trust Fidelity Income Fund Fidelity Investment Trust Fidelity Magellan Fund Fidelity Massachusetts Municipal Trust Fidelity Money Market Trust Fidelity Mt. Vernon Street Trust Fidelity Municipal Trust Fidelity Municipal Trust II Fidelity New York Municipal Trust Fidelity New York Municipal Trust II Fidelity Oxford Street Trust Fidelity Phillips Street Trust Fidelity Puritan Trust Fidelity Revere Street Trust Fidelity School Street Trust Fidelity Securities Fund Fidelity Select Portfolios Fidelity Summer Street Trust Fidelity Trend Fund Fidelity Union Street Trust Fidelity Union Street Trust II Newbury Street Trust Variable Insurance Products Fund Variable Insurance Products Fund II Variable Insurance Products Fund III Variable Insurance Products Fund IV Variable Insurance Products Fund V

plus any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individual serves as Treasurer (collectively, the "Funds"), hereby constitute and appoint Nicholas Steck and Claire Walpole my true and lawful attorneys-in-fact, each of them singly, with full power of substitution, and with full power to sign for me and in my name in the appropriate capacities, all Reports of the Proxy Voting Records of the Funds on Form N-PX under the Investment Company Act of 1940, as amended (the "Act"), or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate to cause such Form to be completed and filed in accordance with the Act and all related requirements of the Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitute may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after August 1, 2007.

WITNESS my hand on this 10th of July 2007.

/s/ Kimberley Monasterio

Kimberley Monasterio

Treasurer