FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

INVESTMENT COMPANY ACT FILE NUMBER: 811-04118

EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: Fidelity Securities Fund

Fund Name: Fidelity Real Estate Income Fund

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

SCOTT C.GOEBEL, 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: JULY 31

DATE OF REPORTING PERIOD: 06/30/2008

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 Securities Fund

BY:  /s/ KENNETH B. ROBINS*
KENNETH B. ROBINS, TREASURER
DATE: 08/13/2008 11:05:55 AM

*BY:  /s/ CLAIRE S. WALPOLE
CLAIRE S. WALPOLE, VICE PRESIDENT, FIDELITY MANAGEMENT & RESEARCH COMPANY, PURSUANT TO A POWER OF ATTORNEY DATED JUNE 11, 2008 AND FILED HEREWITH.

VOTE SUMMARY REPORT
Fidelity Real Estate Income Fund
07/01/2007- 06/30/2008

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: ACADIA REALTY TRUST MEETING DATE: 05/14/2008
TICKER: AKR     SECURITY ID: 004239109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KENNETH F. BERNSTEIN AS A DIRECTOR	Management	For	For
1. 2	ELECT DOUGLAS CROCKER II AS A DIRECTOR	Management	For	For
1. 3	ELECT SUZANNE HOPGOOD AS A DIRECTOR	Management	For	For
1. 4	ELECT LORRENCE T. KELLAR AS A DIRECTOR	Management	For	For
1. 5	ELECT WENDY LUSCOMBE AS A DIRECTOR	Management	For	For
1. 6	ELECT WILLIAM T. SPITZ AS A DIRECTOR	Management	For	For
1. 7	ELECT LEE S. WIELANSKY AS A DIRECTOR	Management	For	For
2	THE RATIFICATION OF THE APPOINTMENT OF BDO SEIDMAN, LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: ALEXANDRIA REAL ESTATE EQUITIES, INC. MEETING DATE: 05/22/2008
TICKER: ARE     SECURITY ID: 015271109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOEL S. MARCUS AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JAMES H. RICHARDSON AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT RICHARD B. JENNINGS AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT JOHN L. ATKINS, III AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT RICHARD H. KLEIN AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT MARTIN A. SIMONETTI AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT ALAN G. WALTON AS A DIRECTOR	Management	For	Withhold
2	APPROVAL OF AN AMENDMENT AND RESTATEMENT OF THE COMPANY S 1997 STOCK AWARD AND INCENTIVE PLAN.	Management	For	For
3	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: AMB PROPERTY CORPORATION MEETING DATE: 05/08/2008
TICKER: AMB     SECURITY ID: 00163T109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: T. ROBERT BURKE	Management	For	For
2	ELECTION OF DIRECTOR: DAVID A. COLE	Management	For	For
3	ELECTION OF DIRECTOR: LYDIA H. KENNARD	Management	For	For
4	ELECTION OF DIRECTOR: J. MICHAEL LOSH	Management	For	For
5	ELECTION OF DIRECTOR: HAMID R. MOGHADAM	Management	For	For
6	ELECTION OF DIRECTOR: FREDERICK W. REID	Management	For	For
7	ELECTION OF DIRECTOR: JEFFREY L. SKELTON	Management	For	For
8	ELECTION OF DIRECTOR: THOMAS W. TUSHER	Management	For	For
9	ELECTION OF DIRECTOR: CARL B. WEBB	Management	For	For
10	RATIFICATION OF THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF AMB PROPERTY CORPORATION FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: ANNALY CAPITAL MANAGEMENT, INC. MEETING DATE: 04/21/2008
TICKER: NLY     SECURITY ID: 035710409
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	FOR THE PROPOSAL TO AMEND OUR CHARTER TO INCREASE THE NUMBER OF AUTHORIZED SHARES TO 1,000,000,000 SHARES.	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: ANNALY CAPITAL MANAGEMENT, INC. MEETING DATE: 05/20/2008
TICKER: NLY     SECURITY ID: 035710409
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MICHAEL A.J. FARRELL* AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JONATHAN D. GREEN* AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT JOHN A. LAMBIASE* AS A DIRECTOR	Management	For	Withhold
2	RATIFICATION OF THE APPOINTMENT OF DELOITTE AND TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR THE 2008 FISCAL YEAR.	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: ANWORTH MORTGAGE ASSET CORPORATION MEETING DATE: 05/22/2008
TICKER: ANH     SECURITY ID: 037347101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT LLOYD MCADAMS AS A DIRECTOR	Management	For	For
1. 2	ELECT LEE A. AULT AS A DIRECTOR	Management	For	For
1. 3	ELECT CHARLES H. BLACK AS A DIRECTOR	Management	For	For
1. 4	ELECT JOE E. DAVIS AS A DIRECTOR	Management	For	For
1. 5	ELECT ROBERT C. DAVIS AS A DIRECTOR	Management	For	For
1. 6	ELECT JOSEPH E. MCADAMS AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF MCGLADREY & PULLEN, LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO AUTHORIZE AN AMENDMENT TO OUR AMENDED ARTICLES OF INCORPORATION TO INCREASE OUR AUTHORIZED NUMBER OF SHARES OF COMMON STOCK FROM 100 MILLION TO 200 MILLION SHARES.	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: AVALONBAY COMMUNITIES, INC. MEETING DATE: 05/21/2008
TICKER: AVB     SECURITY ID: 053484101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BRYCE BLAIR AS A DIRECTOR	Management	For	For
1. 2	ELECT BRUCE A. CHOATE AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHN J. HEALY, JR. AS A DIRECTOR	Management	For	For
1. 4	ELECT GILBERT M. MEYER AS A DIRECTOR	Management	For	For
1. 5	ELECT TIMOTHY J. NAUGHTON AS A DIRECTOR	Management	For	For
1. 6	ELECT LANCE R. PRIMIS AS A DIRECTOR	Management	For	For
1. 7	ELECT PETER S. RUMMELL AS A DIRECTOR	Management	For	For
1. 8	ELECT H. JAY SARLES AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2008.	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: BOSTON PROPERTIES, INC. MEETING DATE: 05/12/2008
TICKER: BXP     SECURITY ID: 101121101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT LAWRENCE S. BACOW AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT ZOE BAIRD AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT ALAN J. PATRICOF AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT MARTIN TURCHIN AS A DIRECTOR	Management	For	Withhold
2	TO RATIFY THE AUDIT COMMITTEE S APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS BOSTON PROPERTIES, INC. S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO CONSIDER AND ACT UPON A STOCKHOLDER PROPOSAL CONCERNING THE ANNUAL ELECTION OF DIRECTORS, IF PROPERLY PRESENTED AT THE ANNUAL MEETING.	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: BROOKDALE SENIOR LIVING INC. MEETING DATE: 06/05/2008
TICKER: BKD     SECURITY ID: 112463104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT WESLEY R. EDENS AS A DIRECTOR	Management	For	For
1. 2	ELECT FRANK M. BUMSTEAD AS A DIRECTOR	Management	For	For
2	THE RATIFICATION OF THE AUDIT COMMITTEE S APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR BROOKDALE SENIOR LIVING INC. FOR THE 2008 FISCAL YEAR.	Management	For	For
3	THE ADOPTION OF THE BROOKDALE SENIOR LIVING INC. ASSOCIATE STOCK PURCHASE 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: CAPITAL SENIOR LIVING CORPORATION MEETING DATE: 05/15/2008
TICKER: CSU     SECURITY ID: 140475104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT LAWRENCE A. COHEN AS A DIRECTOR	Management	For	For
1. 2	ELECT CRAIG F. HARTBERG AS A DIRECTOR	Management	For	For
1. 3	ELECT PETER L. MARTIN AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE AUDIT COMMITTEE S APPOINTMENT OF ERNST & YOUNG LLP, INDEPENDENT ACCOUNTANTS, AS THE COMPANY S INDEPENDENT AUDITORS.	Management	For	For
3	IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING.	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: CAPLEASE, INC. MEETING DATE: 06/11/2008
TICKER: LSE     SECURITY ID: 140288101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT PAUL H. MCDOWELL AS A DIRECTOR	Management	For	For
1. 2	ELECT WILLIAM R. POLLERT AS A DIRECTOR	Management	For	For
1. 3	ELECT MICHAEL E. GAGLIARDI AS A DIRECTOR	Management	For	For
1. 4	ELECT STANLEY KREITMAN AS A DIRECTOR	Management	For	For
1. 5	ELECT JEFFREY F. ROGATZ AS A DIRECTOR	Management	For	For
1. 6	ELECT HOWARD A. SILVER AS A DIRECTOR	Management	For	For
2	RATIFICATION OF MCGLADREY & PULLEN LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2008.	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: COUSINS PROPERTIES INCORPORATED MEETING DATE: 05/06/2008
TICKER: CUZ     SECURITY ID: 222795106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT THOMAS D. BELL, JR. AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT ERSKINE B. BOWLES AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT JAMES D. EDWARDS AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT LILLIAN C. GIORNELLI AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT S. TAYLOR GLOVER AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT JAMES H. HANCE, JR. AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT W.B. HARRISON, JR. AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT BOONE A. KNOX AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT WILLIAM PORTER PAYNE AS A DIRECTOR	Management	For	Withhold
2	PROPOSAL TO AMEND THE 1999 INCENTIVE STOCK PLAN TO INCREASE THE NUMBER OF SHARES AVAILABLE UNDER THE PLAN BY 1,200,000.	Management	For	Against
3	PROPOSAL TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: CYPRESS SHARPRIDGE INVESTMENTS INC MEETING DATE: 05/23/2008
TICKER: CYSHY     SECURITY ID: 23281A208
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KEVIN E. GRANT AS A DIRECTOR	Management	For	For
1. 2	ELECT JEFFREY P. HUGHES AS A DIRECTOR	Management	For	For
1. 3	ELECT JAMES A. STERN AS A DIRECTOR	Management	For	For
1. 4	ELECT FRANCES SPARK AS A DIRECTOR	Management	For	For
1. 5	ELECT DAVID A. TYSON, PHD AS A DIRECTOR	Management	For	For
1. 6	ELECT DOUGLAS CROCKER, II AS A DIRECTOR	Management	For	For
1. 7	ELECT R.A. REDLINGSHAFER AS A DIRECTOR	Management	For	For
2	TO CONSIDER AND ACT UPON A PROPOSAL TO RATIFY, CONFIRM AND APPROVE THE SELECTION OF DELOITTE & TOUCHE LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO CONSIDER AND ACT UPON A PROPOSAL TO APPROVE THE AMENDMENTS TO THE COMPANY S CHARTER TO EFFECTUATE A 3 FOR 1 REVERSE STOCK SPLIT AND MAINTAIN A $0.01 PAR VALUE PER SHARE.	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: DCT INDUSTRIAL TRUST INC. MEETING DATE: 05/20/2008
TICKER: DCT     SECURITY ID: 233153105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT THOMAS G. WATTLES AS A DIRECTOR	Management	For	For
1. 2	ELECT PHILIP L. HAWKINS AS A DIRECTOR	Management	For	For
1. 3	ELECT PHILLIP R. ALTINGER AS A DIRECTOR	Management	For	For
1. 4	ELECT THOMAS F. AUGUST AS A DIRECTOR	Management	For	For
1. 5	ELECT JOHN S. GATES, JR. AS A DIRECTOR	Management	For	For
1. 6	ELECT TRIPP H. HARDIN AS A DIRECTOR	Management	For	For
1. 7	ELECT JAMES R. MULVIHILL AS A DIRECTOR	Management	For	For
1. 8	ELECT JOHN C. O'KEEFFE AS A DIRECTOR	Management	For	For
1. 9	ELECT BRUCE L. WARWICK AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008	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: DEVELOPERS DIVERSIFIED REALTY CORP. MEETING DATE: 05/13/2008
TICKER: DDR     SECURITY ID: 251591103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DEAN S. ADLER AS A DIRECTOR	Management	For	For
1. 2	ELECT TERRANCE R. AHERN AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT H. GIDEL AS A DIRECTOR	Management	For	For
1. 4	ELECT VICTOR B. MACFARLANE AS A DIRECTOR	Management	For	For
1. 5	ELECT CRAIG MACNAB AS A DIRECTOR	Management	For	For
1. 6	ELECT SCOTT D. ROULSTON AS A DIRECTOR	Management	For	For
1. 7	ELECT BARRY A. SHOLEM AS A DIRECTOR	Management	For	For
1. 8	ELECT WILLIAM B. SUMMERS, JR. AS A DIRECTOR	Management	For	For
1. 9	ELECT SCOTT A. WOLSTEIN AS A DIRECTOR	Management	For	For
2	TO APPROVE THE 2008 DEVELOPERS DIVERSIFIED REALTY CORPORATION EQUITY-BASED AWARD PLAN.	Management	For	For
3	TO APPROVE AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED ARTICLES OF INCORPORATION TO ADOPT A MAJORITY VOTE STANDARD IN UNCONTESTED ELECTIONS OF DIRECTORS.	Management	For	For
4	TO APPROVE AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED ARTICLES OF INCORPORATION TO CHANGE THE PAR VALUE OF THE COMPANY S COMMON SHARES FROM WITHOUT PAR VALUE TO $0.10 PAR VALUE PER SHARE.	Management	For	For
5	TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE COMPANY S FISCAL YEAR ENDING DECEMBER 31, 2008.	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: DIGITAL REALTY TRUST, INC. MEETING DATE: 05/05/2008
TICKER: DLRPRA     SECURITY ID: 253868202
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RICHARD A. MAGNUSON AS A DIRECTOR	Management	For	For
1. 2	ELECT MICHAEL F. FOUST AS A DIRECTOR	Management	For	For
1. 3	ELECT LAURENCE A. CHAPMAN AS A DIRECTOR	Management	For	For
1. 4	ELECT KATHLEEN EARLEY AS A DIRECTOR	Management	For	For
1. 5	ELECT RUANN F. ERNST, PH.D. AS A DIRECTOR	Management	For	For
1. 6	ELECT DENNIS E. SINGLETON AS A DIRECTOR	Management	For	For
2	RATIFYING THE SELECTION OF KPMG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE YEAR ENDED DECEMBER 31, 2008	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: DUKE REALTY CORPORATION MEETING DATE: 04/30/2008
TICKER: DRE     SECURITY ID: 264411505
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BARRINGTON H. BRANCH AS A DIRECTOR	Management	For	For
1. 2	ELECT GEOFFREY BUTTON AS A DIRECTOR	Management	For	For
1. 3	ELECT WILLIAM CAVANAUGH III AS A DIRECTOR	Management	For	For
1. 4	ELECT NGAIRE E. CUNEO AS A DIRECTOR	Management	For	For
1. 5	ELECT CHARLES R. EITEL AS A DIRECTOR	Management	For	For
1. 6	ELECT R. GLENN HUBBARD, PH.D. AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT M.C. JISCHKE, PH.D. AS A DIRECTOR	Management	For	For
1. 8	ELECT L. BEN LYTLE AS A DIRECTOR	Management	For	For
1. 9	ELECT DENNIS D. OKLAK AS A DIRECTOR	Management	For	For
1. 10	ELECT WILLIAM O. MCCOY AS A DIRECTOR	Management	For	For
1. 11	ELECT JACK R. SHAW AS A DIRECTOR	Management	For	For
1. 12	ELECT ROBERT J. WOODWARD, JR. AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE REAPPOINTMENT OF KPMG LLP AS ITS 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: EMERITUS CORPORATION MEETING DATE: 08/29/2007
TICKER: ESC     SECURITY ID: 291005106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ISSUANCE OF UP TO 8,500,000 SHARES OF COMMON STOCK, PURSUANT TO THE TERMS OF AN AGREEMENT AND PLAN OF MERGER DATED AS OF MARCH 29, 2007, AMONG EMERITUS, BOSTON PROJECT ACQUISITION CORP., SUMMERVILLE SENIOR LIVING, INC., AP SUMMERVILLE, LLC, AP SUMMERVILLE II, LLC, DANIEL R. BATY AND SARATOGA PARTNERS IV, LP.	Management	For	For
2. 1	ELECT STANLEY L. BATY AS A DIRECTOR	Management	For	For
2. 2	ELECT RAYMOND R. BRANDSTROM AS A DIRECTOR	Management	For	For
2. 3	ELECT T. MICHAEL YOUNG AS A DIRECTOR	Management	For	For
3	APPROVAL OF AMENDMENTS TO OUR RESTATED ARTICLES OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF EMERITUS COMMON STOCK TO 100 MILLION AND TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF EMERITUS PREFERRED STOCK TO 20 MILLION.	Management	For	For
4	APPROVAL OF AMENDMENTS TO OUR 2006 EQUITY INCENTIVE PLAN TO INCREASE THE NUMBER OF SHARES TO 3 MILLION AND TO INCREASE THE SHARE LIMIT ON INDIVIDUAL AWARDS.	Management	For	Against
5	RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 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: EMERITUS CORPORATION MEETING DATE: 06/12/2008
TICKER: ESC     SECURITY ID: 291005106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DANIEL R. BATY* AS A DIRECTOR	Management	For	For
1. 2	ELECT BRUCE L. BUSBY* AS A DIRECTOR	Management	For	For
1. 3	ELECT CHARLES P. DURKIN JR.* AS A DIRECTOR	Management	For	For
1. 4	ELECT STUART KOENIG** AS A DIRECTOR	Management	For	For
1. 5	ELECT GRANGER COBB*** AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2008.	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: EQUITY LIFESTYLE PROPERTIES, INC. MEETING DATE: 05/08/2008
TICKER: ELS     SECURITY ID: 29472R108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT PHILIP C. CALIAN AS A DIRECTOR	Management	For	For
1. 2	ELECT DONALD S. CHISHOLM AS A DIRECTOR	Management	For	For
1. 3	ELECT THOMAS E. DOBROWSKI AS A DIRECTOR	Management	For	For
1. 4	ELECT THOMAS P. HENEGHAN AS A DIRECTOR	Management	For	For
1. 5	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1. 6	ELECT HOWARD WALKER AS A DIRECTOR	Management	For	For
1. 7	ELECT GARY L. WATERMAN AS A DIRECTOR	Management	For	For
1. 8	ELECT SAMUEL ZELL AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	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: EQUITY RESIDENTIAL MEETING DATE: 06/10/2008
TICKER: EQR     SECURITY ID: 29476L107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOHN W. ALEXANDER AS A DIRECTOR	Management	For	For
1. 2	ELECT CHARLES L. ATWOOD AS A DIRECTOR	Management	For	For
1. 3	ELECT STEPHEN O. EVANS AS A DIRECTOR	Management	For	For
1. 4	ELECT BOONE A. KNOX AS A DIRECTOR	Management	For	For
1. 5	ELECT JOHN E. NEAL AS A DIRECTOR	Management	For	For
1. 6	ELECT DAVID J. NEITHERCUT AS A DIRECTOR	Management	For	For
1. 7	ELECT DESIREE G. ROGERS AS A DIRECTOR	Management	For	For
1. 8	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1. 9	ELECT GERALD A. SPECTOR AS A DIRECTOR	Management	For	For
1. 10	ELECT B. JOSEPH WHITE AS A DIRECTOR	Management	For	For
1. 11	ELECT SAMUEL ZELL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITOR FOR THE YEAR ENDING DECEMBER 31, 2008.	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: FEDERAL REALTY INVESTMENT TRUST MEETING DATE: 05/07/2008
TICKER: FRT     SECURITY ID: 313747206
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO ELECT THE FOLLOWING TRUSTEE FOR THE TERM AS SET FORTH IN THE ACCOMPANYING PROXY STATEMENT: WARREN M. THOMPSON	Management	For	Against
2	TO ELECT THE FOLLOWING TRUSTEE FOR THE TERM AS SET FORTH IN THE ACCOMPANYING PROXY STATEMENT: DONALD C. WOOD	Management	For	Against
3	TO RATIFY THE APPOINTMENT OF GRANT THORNTON LLP AS THE TRUST S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
4	TO CONSIDER A SHAREHOLDER PROPOSAL TO REQUEST THAT OUR BOARD OF TRUSTEES TAKE THE ACTIONS NECESSARY TO DECLASSIFY OUR BOARD OF TRUSTEES IF PROPERLY COMING BEFORE THE MEETING OR ANY POSTPONEMENT OR ADJOURNMENT THEREOF.	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: GENERAL GROWTH PROPERTIES, INC. MEETING DATE: 05/14/2008
TICKER: GGP     SECURITY ID: 370021107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MATTHEW BUCKSBAUM AS A DIRECTOR	Management	For	For
1. 2	ELECT BERNARD FREIBAUM AS A DIRECTOR	Management	For	For
1. 3	ELECT BETH STEWART AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF INDEPENDENT PUBLIC ACCOUNTANTS.	Management	For	For
3	STOCKHOLDER PROPOSAL TO DECLASSIFY THE BOARD OF DIRECTORS.	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: HCP, INC. MEETING DATE: 04/24/2008
TICKER: HCP     SECURITY ID: 40414L109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROBERT R. FANNING, JR. AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JAMES F. FLAHERTY III AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT CHRISTINE N. GARVEY AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT DAVID B. HENRY AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT LAURALEE E. MARTIN AS A DIRECTOR	Management	For	For
1. 6	ELECT MICHAEL D. MCKEE AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT HAROLD M. MESSMER, JR. AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT PETER L. RHEIN AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	Withhold
1. 10	ELECT RICHARD M. ROSENBERG AS A DIRECTOR	Management	For	Withhold
1. 11	ELECT JOSEPH P. SULLIVAN AS A DIRECTOR	Management	For	Withhold
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS HCP S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: HIGHWOODS PROPERTIES, INC. MEETING DATE: 05/15/2008
TICKER: HIW     SECURITY ID: 431284108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT THOMAS W. ADLER AS A DIRECTOR	Management	For	For
1. 2	ELECT KAY N. CALLISON AS A DIRECTOR	Management	For	For
1. 3	ELECT O. TEMPLE SLOAN, JR. AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	APPROVAL OF A PROPOSED CHARTER AMENDMENT TO DECLASSIFY THE BOARD OF DIRECTORS.	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: HOST HOTELS & RESORTS, INC. MEETING DATE: 05/14/2008
TICKER: HST     SECURITY ID: 44107P104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: ROBERT M. BAYLIS	Management	For	For
2	ELECTION OF DIRECTOR: TERENCE C. GOLDEN	Management	For	For
3	ELECTION OF DIRECTOR: ANN M. KOROLOGOS	Management	For	For
4	ELECTION OF DIRECTOR: RICHARD E. MARRIOTT	Management	For	For
5	ELECTION OF DIRECTOR: JUDITH A. MCHALE	Management	For	For
6	ELECTION OF DIRECTOR: JOHN B. MORSE, JR.	Management	For	For
7	ELECTION OF DIRECTOR: W. EDWARD WALTER	Management	For	For
8	RATIFY APPOINTMENT OF KPMG 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: INLAND REAL ESTATE CORPORATION MEETING DATE: 06/11/2008
TICKER: IRC     SECURITY ID: 457461200
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROLAND W. BURRIS AS A DIRECTOR	Management	For	For
1. 2	ELECT THOMAS P. D'ARCY AS A DIRECTOR	Management	For	For
1. 3	ELECT DANIEL L. GOODWIN AS A DIRECTOR	Management	For	For
1. 4	ELECT JOEL G. HERTER AS A DIRECTOR	Management	For	For
1. 5	ELECT HEIDI N. LAWTON AS A DIRECTOR	Management	For	For
1. 6	ELECT THOMAS H. MCAULEY AS A DIRECTOR	Management	For	For
1. 7	ELECT THOMAS R. MCWILLIAMS AS A DIRECTOR	Management	For	For
1. 8	ELECT JOEL D. SIMMONS AS A DIRECTOR	Management	For	For
2	RATIFY THE APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: KILROY REALTY CORPORATION MEETING DATE: 05/20/2008
TICKER: KRC     SECURITY ID: 49427F108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOHN B. KILROY, SR. AS A DIRECTOR	Management	For	For
1. 2	ELECT EDWARD F. BRENNAN PH.D. AS A DIRECTOR	Management	For	For
1. 3	ELECT SCOTT S. INGRAHAM AS A DIRECTOR	Management	For	For
2	STOCKHOLDER PROPOSAL	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: KIMCO REALTY CORPORATION MEETING DATE: 05/13/2008
TICKER: KIM     SECURITY ID: 49446R109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT M. KIMMEL AS A DIRECTOR	Management	For	For
1. 2	ELECT M. COOPER AS A DIRECTOR	Management	For	For
1. 3	ELECT R. DOOLEY AS A DIRECTOR	Management	For	For
1. 4	ELECT M. FLYNN AS A DIRECTOR	Management	For	For
1. 5	ELECT J. GRILLS AS A DIRECTOR	Management	For	For
1. 6	ELECT D. HENRY AS A DIRECTOR	Management	For	For
1. 7	ELECT F.P. HUGHES AS A DIRECTOR	Management	For	For
1. 8	ELECT F. LOURENSO AS A DIRECTOR	Management	For	For
1. 9	ELECT R. SALTZMAN AS A DIRECTOR	Management	For	For
1. 10	ELECT P. COVIELLO AS A DIRECTOR	Management	For	For
2	A PROPOSAL TO APPROVE A RECOMMENDATION BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS THAT THE NUMBER OF SHARES OF THE COMPANY S COMMON STOCK, PAR VALUE $0.01 PER SHARE, SUBJECT TO OPTION UNDER THE COMPANY S 1998 EQUITY PARTICIPATION PLAN BE INCREASED BY 5,000,000.	Management	For	For
3	THE RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	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: LASALLE HOTEL PROPERTIES MEETING DATE: 04/24/2008
TICKER: LHO     SECURITY ID: 517942108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JON E. BORTZ AS A DIRECTOR	Management	For	For
1. 2	ELECT DONALD A. WASHBURN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO CONSIDER AND ACT UPON ANY OTHER MATTERS THAT MAY PROPERLY BE BROUGHT BEFORE THE ANNUAL MEETING AND AT ANY ADJOURNMENTS OR POSTPONEMENTS THEREOF.	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: LTC PROPERTIES, INC. MEETING DATE: 06/10/2008
TICKER: LTC     SECURITY ID: 502175102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ANDRE C. DIMITRIADIS AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT BOYD W. HENDRICKSON AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT EDMUND C. KING AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT WENDY L. SIMPSON AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT TIMOTHY J. TRICHE, M.D. AS A DIRECTOR	Management	For	Withhold
2	APPROVAL OF THE COMPANY S 2008 EQUITY PARTICIPATION PLAN.	Management	For	Against
3	RATIFICATION OF THE COMPANY S 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: MERUELO MADDUX PROPERTIES, INC. MEETING DATE: 05/21/2008
TICKER: MMPI     SECURITY ID: 590473104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RICHARD MERUELO AS A DIRECTOR	Management	For	For
1. 2	ELECT JOHN CHARLES MADDUX AS A DIRECTOR	Management	For	For
1. 3	ELECT LYNN BECKEMEYER AS A DIRECTOR	Management	For	For
1. 4	ELECT JOHN B. HANSEN AS A DIRECTOR	Management	For	For
1. 5	ELECT PHILIP S. PAYNE AS A DIRECTOR	Management	For	For
1. 6	ELECT RICHARD GARCIA POLANCO AS A DIRECTOR	Management	For	For
1. 7	ELECT ANTHONY WILLIAMS AS A DIRECTOR	Management	For	For
2	TO APPROVE AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO EFFECT A REVERSE STOCK SPLIT OF THE COMMON STOCK OF THE COMPANY AT A RATIO OF NOT LESS THAN ONE-FOR-THREE AND NOT MORE THAT ONE-FOR-TEN AT ANY TIME PRIOR TO THE 2009 ANNUAL MEETING OF STOCKHOLDERS, WITH THE EXACT RATIO TO BE SET WITHIN THIS RANGE AT THE DISCRETION OF THE DIRECTORS.	Management	For	Against
3	TO RATIFY THE APPOINTMENT OF THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE YEAR ENDING DECEMBER 31, 2008.	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: MFA MORTGAGE INVESTMENTS, INC. MEETING DATE: 05/21/2008
TICKER: MFA     SECURITY ID: 55272X102
TICKER: MFAPRA     SECURITY ID: 55272X201
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT STEPHEN R. BLANK AS A DIRECTOR	Management	For	For
1. 2	ELECT EDISON C. BUCHANAN AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS MFA S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: NATIONAL RETAIL PROPERTIES, INC. MEETING DATE: 05/30/2008
TICKER: NNN     SECURITY ID: 637417106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DENNIS E. GERSHENSON AS A DIRECTOR	Management	For	For
1. 2	ELECT KEVIN B. HABICHT AS A DIRECTOR	Management	For	For
1. 3	ELECT CLIFFORD R. HINKLE AS A DIRECTOR	Management	For	For
1. 4	ELECT RICHARD B. JENNINGS AS A DIRECTOR	Management	For	For
1. 5	ELECT TED B. LANIER AS A DIRECTOR	Management	For	For
1. 6	ELECT ROBERT C. LEGLER AS A DIRECTOR	Management	For	For
1. 7	ELECT CRAIG MACNAB AS A DIRECTOR	Management	For	For
1. 8	ELECT ROBERT MARTINEZ AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	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: NATIONWIDE HEALTH PROPERTIES, INC. MEETING DATE: 05/02/2008
TICKER: NHP     SECURITY ID: 638620104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT R. BRUCE ANDREWS AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT CHARLES D. MILLER AS A DIRECTOR	Management	For	Withhold
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE CALENDAR YEAR ENDING DECEMBER 31, 2008.	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: 05/05/2008
TICKER: PCH     SECURITY ID: 737630103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: JEROME C. KNOLL	Management	For	For
2	ELECTION OF DIRECTOR: JOHN S. MOODY	Management	For	For
3	ELECTION OF DIRECTOR: LAWRENCE S. PEIROS	Management	For	For
4	ELECTION OF DIRECTOR: WILLIAM T. WEYERHAEUSER	Management	For	For
5	APPROVAL OF THE POTLATCH CORPORATION ANNUAL INCENTIVE PLAN.	Management	For	For
6	RATIFICATION OF THE APPOINTMENT OF AN 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: PROLOGIS MEETING DATE: 05/09/2008
TICKER: PLD     SECURITY ID: 743410102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT STEPHEN L. FEINBERG AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT GEORGE L. FOTIADES AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT CHRISTINE N. GARVEY AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT LAWRENCE V. JACKSON AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT DONALD P. JACOBS AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT JEFFREY H. SCHWARTZ AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT D. MICHAEL STEUERT AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT J. ANDRE TEIXEIRA AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT WILLIAM D. ZOLLARS AS A DIRECTOR	Management	For	Withhold
1. 10	ELECT ANDREA M. ZULBERTI AS A DIRECTOR	Management	For	Withhold
2	RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	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: RED LION HOTELS CORPORATION MEETING DATE: 05/22/2008
TICKER: RLH     SECURITY ID: 756764106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RICHARD L. BARBIERI AS A DIRECTOR	Management	For	For
1. 2	ELECT JON E. ELIASSEN AS A DIRECTOR	Management	For	For
1. 3	ELECT ANUPAM NARAYAN AS A DIRECTOR	Management	For	For
2	RATIFICATION OF APPOINTMENT OF BDO SEIDMAN, LLP TO SERVE AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
3	APPROVAL OF 2008 EMPLOYEE STOCK PURCHASE 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: SIMON PROPERTY GROUP, INC. MEETING DATE: 05/08/2008
TICKER: SPG     SECURITY ID: 828806109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BIRCH BAYH AS A DIRECTOR	Management	For	For
1. 2	ELECT MELVYN E. BERGSTEIN AS A DIRECTOR	Management	For	For
1. 3	ELECT LINDA WALKER BYNOE AS A DIRECTOR	Management	For	For
1. 4	ELECT KAREN N. HORN AS A DIRECTOR	Management	For	For
1. 5	ELECT REUBEN S. LEIBOWITZ AS A DIRECTOR	Management	For	For
1. 6	ELECT J. ALBERT SMITH, JR. AS A DIRECTOR	Management	For	For
1. 7	ELECT PIETER S. VAN DEN BERG AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
3	TO APPROVE THE AMENDED SIMON PROPERTY GROUP, L.P. 1998 STOCK INCENTIVE PLAN.	Management	For	For
4	THE STOCKHOLDER PROPOSAL TO ADOPT A PAY FOR SUPERIOR PERFORMANCE PRINCIPLE (SIC).	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: SPIRIT FINANCE CORPORATION MEETING DATE: 07/02/2007
TICKER: SFC     SECURITY ID: 848568309
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PROPOSAL TO APPROVE THE MERGER OF REDFORD MERGER CO. WITH THE COMPANY ON SUBSTANTIALLY THE TERMS AND CONDITIONS SET FORTH IN THE AGREEMENT AND PLAN OF MERGER DATED AS OF MARCH 12, 2007, BY AND AMONG REDFORD HOLDCO, LLC, REDFORD MERGER CO. AND THE COMPANY.	Management	For	For
2. 1	ELECT MORTON H. FLEISCHER AS A DIRECTOR	Management	For	For
2. 2	ELECT CHRISTOPHER H. VOLK AS A DIRECTOR	Management	For	For
2. 3	ELECT WILLIE R. BARNES AS A DIRECTOR	Management	For	For
2. 4	ELECT LINDA J. BLESSING AS A DIRECTOR	Management	For	For
2. 5	ELECT DENNIS E. MITCHEM AS A DIRECTOR	Management	For	For
2. 6	ELECT PAUL F. OREFFICE AS A DIRECTOR	Management	For	For
2. 7	ELECT JAMES R. PARISH AS A DIRECTOR	Management	For	For
2. 8	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	For
2. 9	ELECT CASEY J. SYLLA AS A DIRECTOR	Management	For	For
2. 10	ELECT SHELBY YASTROW AS A DIRECTOR	Management	For	For
3	PROPOSAL TO CONSIDER THE RATIFICATION OF 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
4	PROPOSAL TO APPROVE ANY ADJOURNMENTS OF THE ANNUAL MEETING FOR THE PURPOSE, AMONG OTHERS, OF SOLICITING ADDITIONAL PROXIES IF THERE ARE NOT SUFFICIENT VOTES AT THE ANNUAL MEETING TO APPROVE THE MERGER.	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: STARWOOD HOTELS & RESORTS WORLDWIDE MEETING DATE: 04/30/2008
TICKER: HOT     SECURITY ID: 85590A401
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ADAM ARON AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT CHARLENE BARSHEFSKY AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT BRUCE DUNCAN AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT LIZANNE GALBREATH AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT ERIC HIPPEAU AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT STEPHEN QUAZZO AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT THOMAS RYDER AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT FRITS VAN PAASSCHEN AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT KNEELAND YOUNGBLOOD AS A DIRECTOR	Management	For	Withhold
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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: SUN HEALTHCARE GROUP, INC. MEETING DATE: 06/06/2008
TICKER: SUNH     SECURITY ID: 866933401
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF DIRECTOR: GREGORY S. ANDERSON	Management	For	For
2	ELECTION OF DIRECTOR: TONY M. ASTORGA	Management	For	For
3	ELECTION OF DIRECTOR: CHRISTIAN K. BEMENT	Management	For	For
4	ELECTION OF DIRECTOR: MICHAEL J. FOSTER	Management	For	For
5	ELECTION OF DIRECTOR: BARBARA B. KENNELLY	Management	For	For
6	ELECTION OF DIRECTOR: STEVEN M. LOONEY	Management	For	For
7	ELECTION OF DIRECTOR: RICHARD K. MATROS	Management	For	For
8	ELECTION OF DIRECTOR: MILTON J. WALTERS	Management	For	For
9	ON THE PROPOSAL TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT PUBLIC ACCOUNTANTS OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	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 ST. JOE COMPANY MEETING DATE: 05/13/2008
TICKER: JOE     SECURITY ID: 790148100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MICHAEL L. AINSLIE AS A DIRECTOR	Management	For	For
1. 2	ELECT HUGH M. DURDEN AS A DIRECTOR	Management	For	For
1. 3	ELECT THOMAS A. FANNING AS A DIRECTOR	Management	For	For
1. 4	ELECT HARRY H. FRAMPTON, III AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT WM. BRITTON GREENE AS A DIRECTOR	Management	For	For
1. 6	ELECT ADAM W. HERBERT, JR. AS A DIRECTOR	Management	For	For
1. 7	ELECT DELORES M. KESLER AS A DIRECTOR	Management	For	For
1. 8	ELECT JOHN S. LORD AS A DIRECTOR	Management	For	For
1. 9	ELECT WALTER L. REVELL AS A DIRECTOR	Management	For	For
1. 10	ELECT PETER S. RUMMELL AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE ST. JOE COMPANY FOR THE 2008 FISCAL YEAR.	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: UDR, INC. MEETING DATE: 05/30/2008
TICKER: UDR     SECURITY ID: 902653104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KATHERINE A. CATTANACH AS A DIRECTOR	Management	For	For
1. 2	ELECT ERIC J. FOSS AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT P. FREEMAN AS A DIRECTOR	Management	For	For
1. 4	ELECT JON A. GROVE AS A DIRECTOR	Management	For	For
1. 5	ELECT JAMES D. KLINGBEIL AS A DIRECTOR	Management	For	For
1. 6	ELECT ROBERT C. LARSON AS A DIRECTOR	Management	For	For
1. 7	ELECT THOMAS R. OLIVER AS A DIRECTOR	Management	For	For
1. 8	ELECT LYNNE B. SAGALYN AS A DIRECTOR	Management	For	For
1. 9	ELECT MARK J. SANDLER AS A DIRECTOR	Management	For	For
1. 10	ELECT THOMAS W. TOOMEY AS A DIRECTOR	Management	For	For
1. 11	ELECT THOMAS C. WAJNERT AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2008.	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: VENTAS, INC. MEETING DATE: 05/19/2008
TICKER: VTR     SECURITY ID: 92276F100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DEBRA A. CAFARO AS A DIRECTOR	Management	For	For
1. 2	ELECT DOUGLAS CROCKER II AS A DIRECTOR	Management	For	For
1. 3	ELECT RONALD G. GEARY AS A DIRECTOR	Management	For	For
1. 4	ELECT JAY M. GELLERT AS A DIRECTOR	Management	For	For
1. 5	ELECT ROBERT D. REED AS A DIRECTOR	Management	For	For
1. 6	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1. 7	ELECT JAMES D. SHELTON AS A DIRECTOR	Management	For	For
1. 8	ELECT THOMAS C. THEOBALD AS A DIRECTOR	Management	For	For
2	DIRECTORS PROPOSAL: TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2008.	Management	For	For
3	DIRECTOR S PROPOSAL: TO APPROVE AN AMENDMENT TO THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO ELIMINATE THE BOARD S ABILITY TO GRANT WAIVERS FROM THE CONSTRUCTIVE OWNERSHIP LIMITATIONS IN ARTICLE X THEREOF RELATING TO VENTA S STATUS AS A QUALIFIED REAL ESTATE INVESTMENT TRUST UNDER U.S. FEDERAL INCOME TAX LAW.	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: VORNADO REALTY TRUST MEETING DATE: 05/15/2008
TICKER: VNO     SECURITY ID: 929042109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ANTHONY W. DEERING AS A DIRECTOR	Management	For	For
1. 2	ELECT MICHAEL LYNNE AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT H. SMITH AS A DIRECTOR	Management	For	For
1. 4	ELECT RONALD G. TARGAN AS A DIRECTOR	Management	For	For
2	RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
3	SHAREHOLDER PROPOSAL REGARDING MAJORITY VOTING FOR TRUSTEES.	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: WASHINGTON REAL ESTATE INVESTMENT TR MEETING DATE: 07/12/2007
TICKER: WRE     SECURITY ID: 939653101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MR. EDMUND B. CRONIN JR AS A DIRECTOR	Management	For	For
1. 2	ELECT MR. JOHN P. MCDANIEL AS A DIRECTOR	Management	For	For
2	DECLARATION OF TRUST AMENDMENTS AUTHORIZING PREFERRED SHARES.	Management	For	Against
3	THE ADOPTION OF THE 2007 OMNIBUS LONG-TERM INCENTIVE 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.

POWER OF ATTORNEY

I, the undersigned Treasurer of the following investment companies:

Fidelity Advisor Series I Fidelity Advisor Series VII Fidelity Advisor Series VIII Fidelity Beacon Street Trust Fidelity Capital Trust Fidelity Central Investment Portfolios LLC Fidelity Commonwealth Trust Fidelity Concord Street Trust Fidelity Congress Street Fund Fidelity Contrafund Fidelity Covington Trust Fidelity Destiny Portfolios Fidelity Devonshire Trust Fidelity Exchange Fund Fidelity Financial Trust Fidelity Hanover Street Trust Fidelity Hastings Street Trust Fidelity Investment Trust Fidelity Magellan Fund Fidelity Mt. Vernon Street Trust Fidelity Puritan Trust Fidelity Securities Fund Fidelity Select Portfolios Fidelity Summer Street Trust Fidelity Trend Fund Variable Insurance Products Fund Variable Insurance Products Fund II Variable Insurance Products Fund III Variable Insurance Products Fund IV

in addition to 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 Claire Walpole my true and lawful attorney-in-fact, with full power of substitution, and with full power to sign for me and in my name in the appropriate capacity, 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 attorney-in-fact deems 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 attorney-in-fact or her substitute may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after June 11, 2008.

WITNESS my hand on this 11th day of June 2008.

/s/ Kenneth B. Robins

Kenneth B. Robins

Treasurer