-----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, DXa8nfW0RjV3XF/MYbZAwkaiAHMOBK4kQ1CarGIrwPPs5PQRgN8fKQDYHmt5g+8K 2sjHxs8jOzxvMk5N1BGQyg== 0000744822-00-000007.txt : 20000310 0000744822-00-000007.hdr.sgml : 20000310 ACCESSION NUMBER: 0000744822-00-000007 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY INVESTMENT TRUST CENTRAL INDEX KEY: 0000744822 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: SEC FILE NUMBER: 811-04008 FILM NUMBER: 564620 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391269 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE ZH-1 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY OVERSEAS FUND DATE OF NAME CHANGE: 19861228 DEFA14A 1 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement [ ] Definitive Additional Materials [X] Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12 Fidelity Investment Trust Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11: (4) Proposed maximum aggregate value of transaction: (5) Total Fee Paid: [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a) (2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: [retail version] FIDELITY FRANCE FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity France Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity France Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity France Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity France Fund must invest at least 65% of its assets in securities of French issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including France). The shareholders of Fidelity France Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call a Fidelity Representative at 1-800-544-8888. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for Retail letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of French issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $13.5 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [premium version] FIDELITY FRANCE FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity France Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity France Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity France Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity France Fund must invest at least 65% of its assets in securities of French issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including France). The shareholders of Fidelity France Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call your Premium Services team at 1-800-544-4442, Monday through Friday, 8:00 a.m. to 8:00 p.m. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for premium letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of French issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $13.5 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [NFCS version] FIDELITY FRANCE FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity France Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity France Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity France Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity France Fund must invest at least 65% of its assets in securities of French issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including France). The shareholders of Fidelity France Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please contact your broker or financial representative. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for NFCS letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of French issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $13.5 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [retail version] FIDELITY GERMANY FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity Germany Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity Germany Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity Germany Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity Germany Fund must invest at least 65% of its assets in securities of German issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including Germany). The shareholders of Fidelity Germany Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call a Fidelity Representative at 1-800-544-8888. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for Retail letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of German issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $29.3 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [premium version] FIDELITY GERMANY FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity Germany Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity Germany Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity Germany Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity Germany Fund must invest at least 65% of its assets in securities of German issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including Germany). The shareholders of Fidelity Germany Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call your Premium Services team at 1-800-544-4442, Monday through Friday, 8:00 a.m. to 8:00 p.m. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for premium letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of German issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $29.3 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [NFCS version] FIDELITY GERMANY FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity Germany Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity Germany Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity Germany Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity Germany Fund must invest at least 65% of its assets in securities of German issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including Germany). The shareholders of Fidelity Germany Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please contact your broker or financial representative. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for NFCS letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of German issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $29.3 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Edzard Thierry Serero [retail version] FIDELITY UNITED KINGDOM FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity United Kingdom Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity United Kingdom Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity United Kingdom Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity United Kingdom Fund must invest at least 65% of its assets in securities of British issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including the United Kingdom). The shareholders of Fidelity United Kingdom Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call a Fidelity Representative at 1-800-544-8888. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for Retail letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of British issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $6.9 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Fred Gautier Thierry Serero [premium version] FIDELITY UNITED KINGDOM FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity United Kingdom Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity United Kingdom Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity United Kingdom Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity United Kingdom Fund must invest at least 65% of its assets in securities of British issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including the United Kingdom). The shareholders of Fidelity United Kingdom Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please call your Premium Services team at 1-800-544-4442, Monday through Friday, 8:00 a.m. to 8:00 p.m. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for premium letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of British issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $6.9 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Fred Gautier Thierry Serero [NFCS version] FIDELITY UNITED KINGDOM FUND Dear Investor: We are writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity United Kingdom Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity United Kingdom Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity United Kingdom Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity United Kingdom Fund must invest at least 65% of its assets in securities of British issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including the United Kingdom). The shareholders of Fidelity United Kingdom Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of the Fidelity Funds. If you have any questions, or would like to discuss your options further, please contact your broker or financial representative. Sincerely, Edward McCartney Executive Vice President Product Management and Development SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND PROSPECTUS (THE "PROXY STATEMENT") WHICH CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. THE PROXY STATEMENT WILL BE FILED SHORTLY WITH THE SEC AND WILL BE AVAILABLE, WITHOUT CHARGE, ON THE SEC'S INTERNET WEB SITE (HTTP://WWW.SEC.GOV). PROXY STATEMENTS WILL BE MAILED TO INVESTORS WHO ARE SHAREHOLDERS OF THE FUND AS OF MAY 22, 2000. [second side of page for NFCS letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of British issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $6.9 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Fred Gautier Thierry Serero [FIIS Letterhead] March XX, 2000 FIDELITY FRANCE FUND Dear Shareholder: I am writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity France Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity France Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity France Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity France Fund must invest at least 65% of its assets in securities of French issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including France). The shareholders of Fidelity France Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of Fidelity. If you have any questions, please call your financial advisor. Sincerely, Daniel T. Geraci Executive Vice President Distribution and Marketing Communications NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. Not authorized for distribution unless preceded or accompanied by a current fund prospectus. Shareholders are urged to read the Proxy statement and Prospectus (the "Proxy Statement") which contains important information about the proposed merger. The Proxy Statement will be filed shortly with the SEC and will be available, without charge, on the SEC's Internet Web site (HTTP://WWW.SEC.GOV). Proxy Statements will be mailed to investors who are shareholders of the Fund as of May 22, 2000. 6i98438 [second page of letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY FRANCE FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of French issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $13.5 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Hartmann Thierry Serero [FIIS Letterhead] March XX, 2000 FIDELITY GERMANY FUND Dear Shareholder: I am writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity Germany Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity Germany Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity Germany Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity Germany Fund must invest at least 65% of its assets in securities of German issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including Germany). The shareholders of Fidelity Germany Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of Fidelity. If you have any questions, please call your financial advisor. Sincerely, Daniel T. Geraci Executive Vice President Distribution and Marketing Communications NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. Not authorized for distribution unless preceded or accompanied by a current fund prospectus. Shareholders are urged to read the Proxy statement and Prospectus (the "Proxy Statement") which contains important information about the proposed merger. The Proxy Statement will be filed shortly with the SEC and will be available, without charge, on the SEC's Internet Web site (HTTP://WWW.SEC.GOV). Proxy Statements will be mailed to investors who are shareholders of the Fund as of May 22, 2000. 6i98353 [second page of letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY GERMANY FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of German issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $29.3 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Alexandra Hartmann Thierry Serero [FIIS Letterhead] March XX, 2000 FIDELITY UNITED KINGDOM FUND Dear Shareholder: I am writing to inform you that on January 20, 2000, the Board of Trustees approved a proposal to merge Fidelity United Kingdom Fund into Fidelity Europe Fund. The potential merger should result in operational efficiencies for the fund and related cost savings to current shareholders of the fund. The proposed merger requires approval by shareholders of Fidelity United Kingdom Fund. A proxy statement providing more details of the proposed merger will be mailed in May 2000. We anticipate that the merger, if approved, should be completed by the end of July 2000. In anticipation of the merger, Fidelity United Kingdom Fund will close to all purchases (except dividend reinvestment) at the close of business on April 19, 2000. Please be aware that all automatic investment programs into the fund will terminate on this date. We believe the merger is in the best interest of shareholders. The investment objective of each fund is long-term growth of capital. The principal difference between the funds is that Fidelity United Kingdom Fund must invest at least 65% of its assets in securities of British issuers, whereas Fidelity Europe Fund must invest 65% of its assets in securities of issuers in Europe, which is defined to include 29 different countries (including the United Kingdom). The shareholders of Fidelity United Kingdom Fund should benefit from the significantly lower annual operating expenses of Fidelity Europe Fund. The attached chart highlights key characteristics of both funds. Thank you for your continued support of Fidelity. If you have any questions, please call your financial advisor. Sincerely, Daniel T. Geraci Executive Vice President Distribution and Marketing Communications NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. Not authorized for distribution unless preceded or accompanied by a current fund prospectus. Shareholders are urged to read the Proxy statement and Prospectus (the "Proxy Statement") which contains important information about the proposed merger. The Proxy Statement will be filed shortly with the SEC and will be available, without charge, on the SEC's Internet Web site (HTTP://WWW.SEC.GOV). Proxy Statements will be mailed to investors who are shareholders of the Fund as of May 22, 2000. 6i98357 [second page of letter] COMPARISON OF FUNDS (as of December 31, 1999) FUND FIDELITY UNITED KINGDOM FUND FIDELITY EUROPE FUND OBJECTIVE Long-term growth of capital Long-term growth of capital STRATEGY (solid bullet) Normally (solid bullet) Normally invests the fund's assets invests the fund's assets primarily in common stocks primarily in common stocks (solid bullet) Normally (solid bullet) Normally invests at least 65% of the invests at least 65% of the fund's assets in securities fund's total assets in of British issuers. securities of issuers that have their principal activities in Europe. Europe includes Austria, Belgium, Belarus, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Nether-lands, Norway, Poland, Portugal, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom NET ASSETS $6.9 million $1,477.7 million INCEPTION DATE 11/95 10/86 FUND MANAGER Fred Gautier Thierry Serero -----END PRIVACY-ENHANCED MESSAGE-----