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)

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

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

DATE OF FISCAL YEAR END: JULY 31

DATE OF REPORTING PERIOD: 06/30/2006

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/ CHRISTINE REYNOLDS*
CHRISTINE REYNOLDS, PRESIDENT AND TREASURER
DATE: 08/10/2006 10:00:57 AM

*BY:  /s/ CLAIRE S. WALPOLE
CLAIRE S. WALPOLE, VICE PRESIDENT, FIDELITY MANAGEMENT & RESEARCH COMPANY, PURSUANT TO A POWER OF ATTORNEY DATED JULY 31, 2006 AND FILED HEREWITH.

EXHIBIT A

VOTE SUMMARY REPORT
Fidelity Real Estate Income Fund
07/01/2005 - 06/30/2006

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: 05/15/2006
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 ALAN S. FORMAN AS A DIRECTOR	Management	For	For
1.4	ELECT SUZANNE HOPGOOD AS A DIRECTOR	Management	For	For
1.5	ELECT LORRENCE T. KELLAR AS A DIRECTOR	Management	For	For
1.6	ELECT WENDY LUSCOMBE AS A DIRECTOR	Management	For	For
1.7	ELECT LEE S. WIELANSKY AS A DIRECTOR	Management	For	For
2	TO APPROVE THE ACADIA REALTY TRUST 2006 SHARE INCENTIVE PLAN.	Management	For	Against
3	TO APPROVE AN AMENDMENT TO DECLARATION OF TRUST TO ELIMINATE THE 4% EXCESS SHARE PROVISION.	Management	For	For
4	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, 2006.	Management	For	For
5	THE ADJOURNMENT OR POSTPONEMENT OF THE ANNUAL MEETING, IF NECESSARY, TO PERMIT FURTHER SOLICITATION OF PROXIES IF THERE ARE NOT SUFFICIENT VOTES AT THE TIME OF THE ANNUAL MEETING TO APPROVE THE PROPOSALS.	Management	For	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: ACCREDITED MORTGAGE LOAN REIT TRUST MEETING DATE: 06/08/2006
TICKER: AHHPRA     SECURITY ID: 00438G205
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JAMES A. KONRATH AS A DIRECTOR	Management	For	For
1.2	ELECT JAMES H. BERGLUND AS A DIRECTOR	Management	For	For
1.3	ELECT GARY M. ERICKSON AS A DIRECTOR	Management	For	For
1.4	ELECT BOWERS W. ESPY AS A DIRECTOR	Management	For	For
1.5	ELECT JODY A. GUNDERSON AS A DIRECTOR	Management	For	For
1.6	ELECT JOSEPH J. LYDON AS A DIRECTOR	Management	For	For
1.7	ELECT RICHARD T. PRATT, DBA AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF GRANT THORNTON LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: 05/11/2006
TICKER: AMB     SECURITY ID: 00163T109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT HAMID R. MOGHADAM AS A DIRECTOR	Management	For	For
1.2	ELECT W. BLAKE BAIRD AS A DIRECTOR	Management	For	For
1.3	ELECT AFSANEH M. BESCHLOSS AS A DIRECTOR	Management	For	For
1.4	ELECT T. ROBERT BURKE AS A DIRECTOR	Management	For	For
1.5	ELECT DAVID A. COLE AS A DIRECTOR	Management	For	For
1.6	ELECT LYDIA H. KENNARD AS A DIRECTOR	Management	For	For
1.7	ELECT J. MICHAEL LOSH AS A DIRECTOR	Management	For	For
1.8	ELECT FREDERICK W. REID AS A DIRECTOR	Management	For	For
1.9	ELECT JEFFREY L. SKELTON AS A DIRECTOR	Management	For	For
1.10	ELECT THOMAS W. TUSHER AS A DIRECTOR	Management	For	For
2	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, 2006.	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: AMERICAN FINANCIAL REALTY TRUST MEETING DATE: 06/01/2006
TICKER: AFR     SECURITY ID: 02607P305
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT GLENN BLUMENTHAL AS A DIRECTOR	Management	For	For
1.2	ELECT RAYMOND GAREA AS A DIRECTOR	Management	For	For
1.3	ELECT MICHAEL J. HAGAN AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN P. HOLLIHAN III AS A DIRECTOR	Management	For	For
1.5	ELECT WILLIAM M. KAHANE AS A DIRECTOR	Management	For	For
1.6	ELECT RICHARD A. KRAEMER AS A DIRECTOR	Management	For	For
1.7	ELECT ALAN E. MASTER AS A DIRECTOR	Management	For	For
1.8	ELECT HAROLD W. POTE AS A DIRECTOR	Management	For	For
1.9	ELECT LEWIS S. RANIERI AS A DIRECTOR	Management	For	For
1.10	ELECT NICHOLAS S. SCHORSCH AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: AMERICAN HOME MORTGAGE INVESTMENT CO MEETING DATE: 06/20/2006
TICKER: AHM     SECURITY ID: 02660R107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT C. CATHLEEN RAFFAELI AS A DIRECTOR	Management	For	For
1.2	ELECT KRISTIAN R. SALOVAARA AS A DIRECTOR	Management	For	For
2	RATIFICATION OF DELOITTE & TOUCHE LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2006.	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: AMERICAN RETIREMENT CORPORATION MEETING DATE: 05/17/2006
TICKER: ACR     SECURITY ID: 028913101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JOHN C. MCCAULEY AS A DIRECTOR	Management	For	For
1.2	ELECT JAMES R. SEWARD AS A DIRECTOR	Management	For	For
1.3	ELECT W.E. SHERIFF AS A DIRECTOR	Management	For	For
2	APPROVAL OF THE AMERICAN RETIREMENT CORPORATION 2006 STOCK 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.

ISSUER NAME: ANNALY MORTGAGE MANAGEMENT, INC. MEETING DATE: 05/25/2006
TICKER: NLY     SECURITY ID: 035710409
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT W. J. DENAHAN-NORRIS AS A DIRECTOR	Management	For	For
1.2	ELECT DONNELL A. SEGALAS AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR THE 2006 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: 05/26/2006
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 BDO SEIDMAN, LLP AS OUR INDEPENDENT ACCOUNTANTS AND AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: APARTMENT INVESTMENT AND MANAGEMENT MEETING DATE: 05/10/2006
TICKER: AIV     SECURITY ID: 03748R101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT TERRY CONSIDINE AS A DIRECTOR	Management	For	For
1.2	ELECT JAMES N. BAILEY AS A DIRECTOR	Management	For	For
1.3	ELECT RICHARD S. ELLWOOD AS A DIRECTOR	Management	For	For
1.4	ELECT J. LANDIS MARTIN AS A DIRECTOR	Management	For	For
1.5	ELECT THOMAS L. RHODES AS A DIRECTOR	Management	For	For
1.6	ELECT MICHAEL A. STEIN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP TO SERVE AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR AIMCO FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	Management	For	For
3	TO APPROVE THE SALE OF HIGH PERFORMANCE UNITS.	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: ARDEN REALTY LIMITED PARTNERSHIP MEETING DATE: 06/29/2006
TICKER: --     SECURITY ID: 03979GAH8
TICKER: --     SECURITY ID: 03979GAJ4
TICKER: --     SECURITY ID: 03979GAK1
TICKER: --     SECURITY ID: 03979GAL9
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	THE PROPOSED AMENDMENTS TO THE INDENTURE SET FORTH IN THE CONSENT SOLICITATION PROSPECTUS.	Management	Unknown	None
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: 05/17/2006
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 H. JAY SARLES AS A DIRECTOR	Management	For	For
1.8	ELECT ALLAN D. SCHUSTER AS A DIRECTOR	Management	For	For
1.9	ELECT AMY P. WILLIAMS 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, 2006.	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: 05/03/2006
TICKER: BXP     SECURITY ID: 101121101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM M. DALEY AS A DIRECTOR	Management	For	For
1.2	ELECT EDWARD H. LINDE AS A DIRECTOR	Management	For	For
1.3	ELECT DAVID A. TWARDOCK AS A DIRECTOR	Management	For	For
2	TO CONSIDER AND ACT UPON A STOCKHOLDER PROPOSAL CONCERNING THE ANNUAL ELECTION OF DIRECTORS, IF PROPERLY PRESENTED AT THE ANNUAL MEETING.	Shareholder	Against	For
3	TO CONSIDER AND ACT UPON A STOCKHOLDER PROPOSAL CONCERNING EXECUTIVE COMPENSATION, IF PROPERLY PRESENTED AT THE ANNUAL MEETING.	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CAPITAL LEASE FUNDING, INC. MEETING DATE: 06/14/2006
TICKER: LSE     SECURITY ID: 140288101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT LEWIS S. RANIERI AS A DIRECTOR	Management	For	For
1.2	ELECT PAUL H. MCDOWELL AS A DIRECTOR	Management	For	For
1.3	ELECT WILLIAM R. POLLERT AS A DIRECTOR	Management	For	For
1.4	ELECT MICHAEL E. GAGLIARDI AS A DIRECTOR	Management	For	For
1.5	ELECT STANLEY KREITMAN AS A DIRECTOR	Management	For	For
1.6	ELECT JEFFREY F. ROGATZ AS A DIRECTOR	Management	For	For
1.7	ELECT HOWARD A. SILVER AS A DIRECTOR	Management	For	For
2	APPROVAL OF AMENDMENT AND RESTATEMENT OF 2004 STOCK INCENTIVE PLAN.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CATELLUS DEVELOPMENT CORPORATION MEETING DATE: 09/14/2005
TICKER: CDX     SECURITY ID: 149113102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ADOPTION OF THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JUNE 5, 2005, BY AND AMONG PROLOGIS, PALMTREE ACQUISITION CORPORATION AND CATELLUS DEVELOPMENT CORPORATION, AS AMENDED, PURSUANT TO WHICH CATELLUS WILL MERGE WITH AND INTO PALMTREE ACQUISITION CORPORATION.	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: CENTERPOINT PROPERTIES TRUST MEETING DATE: 03/07/2006
TICKER: CNT     SECURITY ID: 151895109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PROPOSAL TO APPROVE THE MERGER OF SOLSTICE MERGER TRUST WITH AND INTO CENTERPOINT PROPERTIES TRUST PURSUANT TO THE AGREEMENT AND PLAN OF MERGER, DATED AS OF DECEMBER 7, 2005, AS AMENDED BY THAT AMENDMENT TO AGREEMENT AND PLAN OF MERGER, DATED FEBRUARY 2, 2006, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT.	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: DIAMONDROCK HOSPITALITY CO. MEETING DATE: 04/27/2006
TICKER: DRH     SECURITY ID: 252784301
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM W. MCCARTEN AS A DIRECTOR	Management	For	For
1.2	ELECT DANIEL J. ALTOBELLO AS A DIRECTOR	Management	For	For
1.3	ELECT W. ROBERT GRAFTON AS A DIRECTOR	Management	For	For
1.4	ELECT MAUREEN L. MCAVEY AS A DIRECTOR	Management	For	For
1.5	ELECT GILBERT T. RAY AS A DIRECTOR	Management	For	For
1.6	ELECT JOHN L. WILLIAMS AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF KPMG LLP AS THE INDEPENDENT AUDITORS FOR DIAMONDROCK HOSPITALITY COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: EAGLE HOSPITALITY PROPERTIES TRUST, MEETING DATE: 05/03/2006
TICKER: EHP     SECURITY ID: 26959T102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM P. BUTLER AS A DIRECTOR	Management	For	For
1.2	ELECT J. WILLIAM BLACKHAM AS A DIRECTOR	Management	For	For
1.3	ELECT ROBERT J. KOHLHEPP AS A DIRECTOR	Management	For	For
1.4	ELECT FRANK C. MCDOWELL AS A DIRECTOR	Management	For	For
1.5	ELECT LOUIS D. GEORGE AS A DIRECTOR	Management	For	For
1.6	ELECT THOMAS R. ENGEL AS A DIRECTOR	Management	For	For
1.7	ELECT THOMAS E. COSTELLO AS A DIRECTOR	Management	For	For
1.8	ELECT THOMAS E. BANTA AS A DIRECTOR	Management	For	For
1.9	ELECT PAUL S. FISHER AS A DIRECTOR	Management	For	For
2	TO APPROVE THE RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS FOR THE 2006 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: EDUCATION REALTY TRUST, INC. MEETING DATE: 05/24/2006
TICKER: EDR     SECURITY ID: 28140H104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT PAUL O. BOWER AS A DIRECTOR	Management	For	For
1.2	ELECT MONTE J. BARROW AS A DIRECTOR	Management	For	For
1.3	ELECT WILLIAM J. CAHILL, III AS A DIRECTOR	Management	For	For
1.4	ELECT RANDALL L. CHURCHEY AS A DIRECTOR	Management	For	For
1.5	ELECT JOHN L. FORD AS A DIRECTOR	Management	For	For
2	RATIFICATION OF APPOINTMENT OF DELOITTE & TOUCHE LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: 05/03/2006
TICKER: ELS     SECURITY ID: 29472R108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT DONALD S. CHISHOLM AS A DIRECTOR	Management	For	For
1.2	ELECT THOMAS E. DOBROWSKI AS A DIRECTOR	Management	For	For
1.3	ELECT THOMAS P. HENEGHAN AS A DIRECTOR	Management	For	For
1.4	ELECT PHILIP C. CALIAN 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	RATIFICATION OF SELECTION OF INDEPENDENT ACCOUNTANTS PROPOSAL TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR 2006.	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 OFFICE PROPERTIES TRUST MEETING DATE: 05/24/2006
TICKER: EOP     SECURITY ID: 294741103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MARILYN A. ALEXANDER AS A DIRECTOR	Management	For	For
1.2	ELECT THOMAS E. DOBROWSKI AS A DIRECTOR	Management	For	For
1.3	ELECT WILLIAM M. GOODYEAR AS A DIRECTOR	Management	For	For
1.4	ELECT JAMES D. HARPER, JR. AS A DIRECTOR	Management	For	For
1.5	ELECT RICHARD D. KINCAID AS A DIRECTOR	Management	For	For
1.6	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1.7	ELECT STEPHEN I. SADOVE AS A DIRECTOR	Management	For	For
1.8	ELECT SALLY SUSMAN AS A DIRECTOR	Management	For	For
1.9	ELECT J.H.W.R. VAN DER VLIST AS A DIRECTOR	Management	For	For
1.10	ELECT SAMUEL ZELL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE AUDIT COMMITTEE S APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: EQUITY RESIDENTIAL MEETING DATE: 05/25/2006
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 JAMES D. HARPER, JR. AS A DIRECTOR	Management	For	For
1.5	ELECT BOONE A. KNOX 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, 2006.	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: 05/03/2006
TICKER: FRT     SECURITY ID: 313747206
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WALTER F. LOEB AS A DIRECTOR	Management	For	For
1.2	ELECT JOSEPH S. VASSALLUZZO AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF GRANT THORNTON LLP AS THE TRUST S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: FIDELITY CASH CENTRAL FUND MEETING DATE: 02/15/2006
TICKER: --     SECURITY ID: 31635A105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT DENNIS J. DIRKS AS A DIRECTOR	Management	For	For
1.2	ELECT ALBERT R. GAMPER, JR. AS A DIRECTOR	Management	For	For
1.3	ELECT ROBERT M. GATES AS A DIRECTOR	Management	For	For
1.4	ELECT GEORGE H. HEILMEIER AS A DIRECTOR	Management	For	For
1.5	ELECT EDWARD C. JOHNSON 3D AS A DIRECTOR	Management	For	For
1.6	ELECT STEPHEN P. JONAS AS A DIRECTOR	Management	For	For
1.7	ELECT MARIE L. KNOWLES AS A DIRECTOR	Management	For	For
1.8	ELECT NED C. LAUTENBACH AS A DIRECTOR	Management	For	For
1.9	ELECT WILLIAM O. MCCOY AS A DIRECTOR	Management	For	For
1.10	ELECT ROBERT L. REYNOLDS AS A DIRECTOR	Management	For	For
1.11	ELECT CORNELIA M. SMALL AS A DIRECTOR	Management	For	For
1.12	ELECT WILLIAM S. STAVROPOULOS AS A DIRECTOR	Management	For	For
1.13	ELECT KENNETH L. WOLFE AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: FIDELITY ULTRA-SHORT CENTRAL FUND MEETING DATE: 02/15/2006
TICKER: --     SECURITY ID: 316167105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT DENNIS J. DIRKS AS A DIRECTOR	Management	For	For
1.2	ELECT ALBERT R. GAMPER, JR. AS A DIRECTOR	Management	For	For
1.3	ELECT ROBERT M. GATES AS A DIRECTOR	Management	For	For
1.4	ELECT GEORGE H. HEILMEIER AS A DIRECTOR	Management	For	For
1.5	ELECT EDWARD C. JOHNSON 3D AS A DIRECTOR	Management	For	For
1.6	ELECT STEPHEN P. JONAS AS A DIRECTOR	Management	For	For
1.7	ELECT MARIE L. KNOWLES AS A DIRECTOR	Management	For	For
1.8	ELECT NED C. LAUTENBACH AS A DIRECTOR	Management	For	For
1.9	ELECT WILLIAM O. MCCOY AS A DIRECTOR	Management	For	For
1.10	ELECT ROBERT L. REYNOLDS AS A DIRECTOR	Management	For	For
1.11	ELECT CORNELIA M. SMALL AS A DIRECTOR	Management	For	For
1.12	ELECT WILLIAM S. STAVROPOULOS AS A DIRECTOR	Management	For	For
1.13	ELECT KENNETH L. WOLFE AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: FIELDSTONE INVESTMENT CORPORATION MEETING DATE: 06/01/2006
TICKER: FICC     SECURITY ID: 31659U300
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT THOMAS D. ECKERT AS A DIRECTOR	Management	For	For
1.2	ELECT DAVID S. ENGELMAN AS A DIRECTOR	Management	For	For
1.3	ELECT CELIA V. MARTIN AS A DIRECTOR	Management	For	For
1.4	ELECT JONATHAN E. MICHAEL AS A DIRECTOR	Management	For	For
1.5	ELECT DAVID A. SCHOENHOLZ AS A DIRECTOR	Management	For	For
1.6	ELECT MICHAEL J. SONNENFELD AS A DIRECTOR	Management	For	For
1.7	ELECT JEFFREY R. SPRINGER AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS AS FIELDSTONE S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: GENERAL GROWTH PROPERTIES, INC. MEETING DATE: 05/16/2006
TICKER: GGP     SECURITY ID: 370021107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ADAM METZ AS A DIRECTOR	Management	For	For
1.2	ELECT ROBERT MICHAELS AS A DIRECTOR	Management	For	For
1.3	ELECT THOMAS NOLAN AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN RIORDAN AS A DIRECTOR	Management	For	For
2	AMENDMENT OF THE 2003 INCENTIVE STOCK PLAN TO PROVIDE FOR AN ANNUAL AWARD OF RESTRICTED STOCK TO OUR NON-EMPLOYEE DIRECTORS AND TO PERMIT ISSUANCES UNDER THE PLAN TO BE EFFECTED ELECTRONICALLY.	Management	For	For
3	RATIFICATION OF THE SELECTION OF INDEPENDENT PUBLIC ACCOUNTANTS.	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: GLENBOROUGH REALTY TRUST MEETING DATE: 05/04/2006
TICKER: GLB     SECURITY ID: 37803P105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT BATINOVICH AS A DIRECTOR	Management	For	For
1.2	ELECT PATRICK FOLEY AS A DIRECTOR	Management	For	For
1.3	ELECT KEITH LOCKER AS A DIRECTOR	Management	For	For
2	RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS - RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS, LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE COMPANY.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HEALTH CARE PROPERTY INVESTORS, INC. MEETING DATE: 05/11/2006
TICKER: HCP     SECURITY ID: 421915109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MARY A CIRILLO-GOLDBERG AS A DIRECTOR	Management	For	Withhold
1.2	ELECT ROBERT R. FANNING, JR. AS A DIRECTOR	Management	For	Withhold
1.3	ELECT JAMES F. FLAHERTY III AS A DIRECTOR	Management	For	Withhold
1.4	ELECT DAVID B. HENRY AS A DIRECTOR	Management	For	Withhold
1.5	ELECT MICHAEL D. MCKEE AS A DIRECTOR	Management	For	Withhold
1.6	ELECT HAROLD M. MESSMER, JR. AS A DIRECTOR	Management	For	Withhold
1.7	ELECT PETER L. RHEIN AS A DIRECTOR	Management	For	Withhold
1.8	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	Withhold
1.9	ELECT RICHARD M. ROSENBERG AS A DIRECTOR	Management	For	Withhold
1.10	ELECT JOSEPH P. SULLIVAN AS A DIRECTOR	Management	For	Withhold
2	TO APPROVE THE COMPANY S 2006 PERFORMANCE INCENTIVE PLAN.	Management	For	Against
3	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	Management	For	For
4	AT THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO CONSIDER AND VOTE UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENT THEREOF.	Management	For	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HEALTHCARE REALTY TRUST INCORPORATED MEETING DATE: 05/09/2006
TICKER: HR     SECURITY ID: 421946104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT DAVID R. EMERY* AS A DIRECTOR	Management	For	For
1.2	ELECT BATEY M. GRESHAM, JR.* AS A DIRECTOR	Management	For	For
1.3	ELECT DAN S. WILFORD* AS A DIRECTOR	Management	For	For
1.4	ELECT C.R. FERNANDEZ, M.D.,** AS A DIRECTOR	Management	For	For
1.5	ELECT ERROL L. BIGGS, PHD** AS A DIRECTOR	Management	For	For
1.6	ELECT BRUCE D. SULLIVAN** AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE APPOINTMENT OF BDO SEIDMAN, LLP AS 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: HOMEBANC CORP. MEETING DATE: 05/25/2006
TICKER: HMB     SECURITY ID: 43738R109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT PATRICK S. FLOOD AS A DIRECTOR	Management	For	For
1.2	ELECT KEVIN D. RACE AS A DIRECTOR	Management	For	For
1.3	ELECT GLENN T. AUSTIN, JR. AS A DIRECTOR	Management	For	For
1.4	ELECT LAWRENCE W. HAMILTON AS A DIRECTOR	Management	For	For
1.5	ELECT WARREN Y. JOBE AS A DIRECTOR	Management	For	For
1.6	ELECT JOEL K. MANBY AS A DIRECTOR	Management	For	For
1.7	ELECT ROBERT C. PATTON AS A DIRECTOR	Management	For	For
1.8	ELECT BONNIE L. PHIPPS AS A DIRECTOR	Management	For	For
1.9	ELECT JOHN W. SPIEGEL AS A DIRECTOR	Management	For	For
1.10	ELECT JAMES B. WITHEROW AS A DIRECTOR	Management	For	For
2	TO APPROVE THE AMENDMENTS TO THE HOMEBANC CORP. AMENDED AND RESTATED 2004 LONG-TERM INCENTIVE PLAN.	Management	For	For
3	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS HOMEBANC CORP S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.	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 MEETING DATE: 05/18/2006
TICKER: HST     SECURITY ID: 44107P104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT M. BAYLIS AS A DIRECTOR	Management	For	For
1.2	ELECT TERENCE C. GOLDEN AS A DIRECTOR	Management	For	For
1.3	ELECT ANN M. KOROLOGOS AS A DIRECTOR	Management	For	For
1.4	ELECT RICHARD E. MARRIOTT AS A DIRECTOR	Management	For	For
1.5	ELECT JUDITH A. MCHALE AS A DIRECTOR	Management	For	For
1.6	ELECT JOHN B. MORSE, JR. AS A DIRECTOR	Management	For	For
1.7	ELECT CHRISTOPHER J. NASSETTA AS A DIRECTOR	Management	For	For
2	RATIFY APPOINTMENT OF KPMG LLP AS INDEPENDENT AUDITORS.	Management	For	For
3	STOCKHOLDER PROPOSAL TO ELECT DIRECTORS BY A MAJORITY VOTE STANDARD.	Shareholder	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HOST MARRIOTT CORPORATION MEETING DATE: 04/05/2006
TICKER: HST     SECURITY ID: 44107P104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ISSUANCE OF SHARES OF HOST MARRIOTT CORPORATION COMMON STOCK IN THE TRANSACTIONS	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: 06/22/2006
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 ROBERT D. PARKS AS A DIRECTOR	Management	For	For
1.9	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, 2006.	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: INNKEEPERS USA TRUST MEETING DATE: 05/03/2006
TICKER: KPA     SECURITY ID: 4576J0104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT JEFFREY H. FISHER AS A DIRECTOR	Management	For	For
1.2	ELECT THOMAS J. CROCKER AS A DIRECTOR	Management	For	For
1.3	ELECT ROLF E. RUHFUS AS A DIRECTOR	Management	For	For
2	APPROVE 2006 NON-EMPLOYEE TRUSTEES SHARE INCENTIVE PLAN.	Management	For	For
3	APPROVE DELETION OF ARTICLE XII OF THE COMPANY S AMENDED AND RESTATED DECLARATION OF TRUST, WHICH LIMITS THE COMPANY S INDEBTEDNESS TO 50% OF INVESTMENT IN HOTEL PROPERTIES, AT COST.	Management	For	For
4	RATIFY APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT AUDITORS FOR THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: KB HOME MEETING DATE: 04/06/2006
TICKER: KBH     SECURITY ID: 48666K109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT BRUCE KARATZ AS A DIRECTOR	Management	For	For
1.2	ELECT KENNETH M. JASTROW, II AS A DIRECTOR	Management	For	For
1.3	ELECT MELISSA LORA AS A DIRECTOR	Management	For	For
1.4	ELECT MICHAEL G. MCCAFFERY AS A DIRECTOR	Management	For	For
2	PROPOSAL TO AMEND THE AMENDED CERTIFICATE OF INCORPORATION OF KB HOME TO DECREASE THE NUMBER OF AUTHORIZED SHARES OF KB HOME COMMON STOCK FROM 300 MILLION SHARES TO 290 MILLION SHARES.	Management	For	For
3	PROPOSAL TO APPROVE THE AMENDED AND RESTATED KB HOME 1999 INCENTIVE PLAN.	Management	For	For
4	PROPOSAL TO RATIFY ERNST & YOUNG LLP AS KB HOME S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING NOVEMBER 30, 2006.	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: KIMCO REALTY CORPORATION MEETING DATE: 05/18/2006
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
2	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	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
4	TO CONSIDER AND VOTE ON THE STOCKHOLDER PROPOSAL IF PROPERLY PRESENTED AT THE MEETING.	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KKR FINANCIAL CORP. MEETING DATE: 05/03/2006
TICKER: KFN     SECURITY ID: 482476306
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM F. ALDINGER AS A DIRECTOR	Management	For	For
1.2	ELECT PATRICK COWELL AS A DIRECTOR	Management	For	For
1.3	ELECT KENNETH M. DEREGT AS A DIRECTOR	Management	For	For
1.4	ELECT VINCENT PAUL FINIGAN AS A DIRECTOR	Management	For	For
1.5	ELECT SATURNINO S. FANLO AS A DIRECTOR	Management	For	For
1.6	ELECT PAUL M. HAZEN AS A DIRECTOR	Management	For	For
1.7	ELECT R. GLENN HUBBARD AS A DIRECTOR	Management	For	For
1.8	ELECT ROSS J. KARI AS A DIRECTOR	Management	For	For
1.9	ELECT ELY L. LICHT AS A DIRECTOR	Management	For	For
1.10	ELECT DEBORAH H. MCANENY AS A DIRECTOR	Management	For	For
1.11	ELECT SCOTT C. NUTTALL AS A DIRECTOR	Management	For	For
2	TO RATIFY THE BOARD OF DIRECTOR S APPOINTMENT OF DELOITTE & TOUCHE LLP AS KKR FINANCIAL CORP. S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2006.	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: LEXINGTON CORPORATE PROPERTIES TRUST MEETING DATE: 05/23/2006
TICKER: LXP     SECURITY ID: 529043101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT E. ROBERT ROSKIND AS A DIRECTOR	Management	For	For
1.2	ELECT RICHARD J. ROUSE AS A DIRECTOR	Management	For	For
1.3	ELECT T. WILSON EGLIN AS A DIRECTOR	Management	For	For
1.4	ELECT GEOFFREY DOHRMANN AS A DIRECTOR	Management	For	For
1.5	ELECT CARL D. GLICKMAN AS A DIRECTOR	Management	For	For
1.6	ELECT JAMES GROSFELD AS A DIRECTOR	Management	For	For
1.7	ELECT KEVIN W. LYNCH AS A DIRECTOR	Management	For	For
1.8	ELECT STANLEY R. PERLA AS A DIRECTOR	Management	For	For
1.9	ELECT SETH M. ZACHARY AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2006.	Management	For	For
3	TO TRANSACT SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE 2006 ANNUAL MEETING, INCLUDING ANY ADJOURNMENT OR POSTPONEMENT THEREOF.	Management	For	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: MERISTAR HOSPITALITY CORPORATION MEETING DATE: 04/27/2006
TICKER: MHX     SECURITY ID: 58984Y103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE MERGER OF MERISTAR HOSPITALITY CORPORATION WITH AND INTO ALCOR ACQUISITION LLC AND THE OTHER TRANSACTIONS CONTEMPLATED BY THE AGREEMENT AND PLAN OF MERGER, DATED AS OF FEBRUARY 20, 2006, ALL AS MORE FULLY DESCRIBED IN THE PROXY STATEMENT.	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: 05/25/2006
TICKER: MFA     SECURITY ID: 55272X102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MICHAEL L. DAHIR AS A DIRECTOR	Management	For	For
1.2	ELECT GEORGE H. KRAUSS AS A DIRECTOR	Management	For	For
2	RATIFICATION OF AUDITORS: RATIFICATION OF APPOINTMENT OF ERNST & YOUNG LLP AS MFA S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: MORTGAGEIT HOLDINGS, INC. MEETING DATE: 06/13/2006
TICKER: MHL     SECURITY ID: 61915Q108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT EDOLPHUS TOWNS* AS A DIRECTOR	Management	For	For
1.2	ELECT JOHN K. DARR** AS A DIRECTOR	Management	For	For
1.3	ELECT MICHAEL N. GARIN** AS A DIRECTOR	Management	For	For
1.4	ELECT TIMOTHY SCHANTZ** AS A DIRECTOR	Management	For	For
2	RATIFICATION OF APPOINTMENT OF BDO SEIDMAN, LLP AS THE COMPANY S INDEPENDENT AUDITOR FOR THE YEAR ENDING DECEMBER 31, 2006	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: 04/21/2006
TICKER: NHP     SECURITY ID: 638620104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT WILLIAM K. DOYLE AS A DIRECTOR	Management	For	For
1.2	ELECT ROBERT D. PAULSON AS A DIRECTOR	Management	For	For
1.3	ELECT KEITH P. RUSSELL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE CALENDER YEAR ENDING DECEMBER 31, 2006.	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: NEW PLAN EXCEL REALTY TRUST, INC. MEETING DATE: 05/16/2006
TICKER: NXLRZ     SECURITY ID: 648053700
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT IRWIN ENGELMAN AS A DIRECTOR	Management	For	For
1.2	ELECT H. CARL MCCALL AS A DIRECTOR	Management	For	For
1.3	ELECT MELVIN NEWMAN AS A DIRECTOR	Management	For	For
1.4	ELECT GLENN J. RUFRANO AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: NEWCASTLE INVESTMENT CORP. MEETING DATE: 05/18/2006
TICKER: NCT     SECURITY ID: 65105M108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT KEVIN J. FINNERTY* AS A DIRECTOR	Management	For	For
1.2	ELECT STUART A. MCFARLAND** AS A DIRECTOR	Management	For	For
1.3	ELECT PETER M. MILLER** AS A DIRECTOR	Management	For	For
2	PROPOSAL TO APPROVE THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE FISCAL YEAR 2006.	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: OPTEUM INC. MEETING DATE: 04/28/2006
TICKER: OPX     SECURITY ID: 68384A100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MAUREEN A. HENDRICKS AS A DIRECTOR	Management	For	For
1.2	ELECT JASON KAPLAN AS A DIRECTOR	Management	For	For
1.3	ELECT PETER R. NORDEN AS A DIRECTOR	Management	For	For
1.4	ELECT JEFFREY J. ZIMMER AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006	Management	For	For
3	CONVERSION OF 1,223,208 SHARES OF CLASS A REDEEMABLE PREFERRED STOCK INTO SHARES OF CLASS A COMMON STOCK ON A ONE-FOR-ONE BASIS	Management	For	For
4	AUTHORIZATION OF THE ISSUANCE OF SHARES OF CLASS A COMMON STOCK IN LIEU OF SHARES OF CLASS B REDEEMABLE PREFERRED STOCK	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: ORIGEN FINANCIAL, INC. MEETING DATE: 06/15/2006
TICKER: ORGFL     SECURITY ID: 68619E109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT RONALD A. KLEIN AS A DIRECTOR	Management	For	For
1.2	ELECT PAUL A. HALPERN AS A DIRECTOR	Management	For	For
1.3	ELECT GARY A. SHIFFMAN AS A DIRECTOR	Management	For	For
1.4	ELECT RICHARD H. ROGEL AS A DIRECTOR	Management	For	For
1.5	ELECT JAMES A. WILLIAMS AS A DIRECTOR	Management	For	For
1.6	ELECT MICHAEL J. WECHSLER AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PLUM CREEK TIMBER COMPANY, INC. MEETING DATE: 05/03/2006
TICKER: PCL     SECURITY ID: 729251108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT RICK R. HOLLEY AS A DIRECTOR	Management	For	For
1.2	ELECT IAN B. DAVIDSON AS A DIRECTOR	Management	For	For
1.3	ELECT ROBIN JOSEPHS AS A DIRECTOR	Management	For	For
1.4	ELECT JOHN G. MCDONALD AS A DIRECTOR	Management	For	For
1.5	ELECT ROBERT B. MCLEOD AS A DIRECTOR	Management	For	For
1.6	ELECT JOHN H. SCULLY AS A DIRECTOR	Management	For	For
1.7	ELECT STEPHEN C. TOBIAS AS A DIRECTOR	Management	For	For
1.8	ELECT CARL B. WEBB AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS FOR 2006.	Management	For	For
3	STOCKHOLDER PROPOSAL TO INCREASE THE VOTING THRESHOLD BY WHICH INDIVIDUALS ARE ELECTED TO THE BOARD OF DIRECTORS.	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: PROLOGIS MEETING DATE: 09/14/2005
TICKER: PLD     SECURITY ID: 743410102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ISSUANCE OF PROLOGIS COMMON SHARES OF BENEFICIAL INTEREST CONTEMPLATED BY THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JUNE 5, 2005, BY AND AMONG PROLOGIS, PALMTREE ACQUISITION CORPORATION AND CATELLUS DEVELOPMENT CORPORATION, AS AMENDED.	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: 05/26/2006
TICKER: PLD     SECURITY ID: 743410102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT K. DANE BROOKSHER AS A DIRECTOR	Management	For	For
1.2	ELECT STEPHEN L. FEINBERG AS A DIRECTOR	Management	For	For
1.3	ELECT GEORGE L. FOTIADES AS A DIRECTOR	Management	For	For
1.4	ELECT CHRISTINE N. GARVEY AS A DIRECTOR	Management	For	For
1.5	ELECT DONALD P. JACOBS AS A DIRECTOR	Management	For	For
1.6	ELECT WALTER C. RAKOWICH AS A DIRECTOR	Management	For	For
1.7	ELECT NELSON C. RISING AS A DIRECTOR	Management	For	For
1.8	ELECT JEFFREY H. SCHWARTZ AS A DIRECTOR	Management	For	For
1.9	ELECT D. MICHAEL STEUERT AS A DIRECTOR	Management	For	For
1.10	ELECT J. ANDRE TEIXEIRA AS A DIRECTOR	Management	For	For
1.11	ELECT WILLIAM D. ZOLLARS AS A DIRECTOR	Management	For	For
1.12	ELECT ANDREA M. ZULBERTI AS A DIRECTOR	Management	For	For
2	APPROVAL AND ADOPTION OF THE 2006 LONG-TERM INCENTIVE PLAN.	Management	For	Against
3	RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.	Management	For	For
4	TO VOTE AND OTHERWISE REPRESENT THE UNDERSIGNED ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENT OR POSTPONEMENT THEREOF IN THE DISCRETION OF THE PROXY HOLDER.	Management	For	Abstain
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SAXON CAPITAL, INC. MEETING DATE: 06/13/2006
TICKER: SAX     SECURITY ID: 80556T106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT RICHARD A. KRAEMER AS A DIRECTOR	Management	For	For
1.2	ELECT LOUIS C. FORNETTI AS A DIRECTOR	Management	For	For
1.3	ELECT ANASTASIA D. KELLY AS A DIRECTOR	Management	For	For
1.4	ELECT MICHAEL L. SAWYER AS A DIRECTOR	Management	For	For
1.5	ELECT THOMAS J. WAGEMAN AS A DIRECTOR	Management	For	For
1.6	ELECT DAVID D. WESSELINK AS A DIRECTOR	Management	For	For
2	INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM: RATIFICATION OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006	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: 05/11/2006
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	APPROVAL OF PROPOSED AMENDMENT TO STOCK INCENTIVE PLAN.	Management	For	For
3	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2006.	Management	For	For
4	TO CONSIDER AND VOTE ON A STOCKHOLDER PROPOSAL	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: SIMON PROPERTY GROUP, INC. MEETING DATE: 05/11/2006
TICKER: SPGPRG     SECURITY ID: 828806505
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
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: 05/19/2006
TICKER: SFC     SECURITY ID: 848568309
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MORTON H. FLEISCHER AS A DIRECTOR	Management	For	For
1.2	ELECT CHRISTOPHER H. VOLK AS A DIRECTOR	Management	For	For
1.3	ELECT WILLIE R. BARNES AS A DIRECTOR	Management	For	For
1.4	ELECT LINDA J. BLESSING AS A DIRECTOR	Management	For	For
1.5	ELECT DENNIS E. MITCHEM AS A DIRECTOR	Management	For	For
1.6	ELECT PAUL F. OREFFICE AS A DIRECTOR	Management	For	For
1.7	ELECT JAMES R. PARISH AS A DIRECTOR	Management	For	For
1.8	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	For
1.9	ELECT CASEY J. SYLLA AS A DIRECTOR	Management	For	For
1.10	ELECT SHELBY YASTROW AS A DIRECTOR	Management	For	For
2	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, 2006.	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: SPIRIT FINANCE CORPORATION MEETING DATE: 05/19/2006
TICKER: SPFNL     SECURITY ID: 848568101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT MORTON H. FLEISCHER AS A DIRECTOR	Management	For	For
1.2	ELECT CHRISTOPHER H. VOLK AS A DIRECTOR	Management	For	For
1.3	ELECT WILLIE R. BARNES AS A DIRECTOR	Management	For	For
1.4	ELECT LINDA J. BLESSING AS A DIRECTOR	Management	For	For
1.5	ELECT DENNIS E. MITCHEM AS A DIRECTOR	Management	For	For
1.6	ELECT PAUL F. OREFFICE AS A DIRECTOR	Management	For	For
1.7	ELECT JAMES R. PARISH AS A DIRECTOR	Management	For	For
1.8	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	For
1.9	ELECT CASEY J. SYLLA AS A DIRECTOR	Management	For	For
1.10	ELECT SHELBY YASTROW AS A DIRECTOR	Management	For	For
2	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, 2006.	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: 05/02/2006
TICKER: HOT     SECURITY ID: 85590A203
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT HEYER AS A DIRECTOR	Management	For	For
1.2	ELECT BARSHEFSKY AS A DIRECTOR	Management	For	For
1.3	ELECT CHAPUS AS A DIRECTOR	Management	For	For
1.4	ELECT DUNCAN AS A DIRECTOR	Management	For	For
1.5	ELECT GALBREATH AS A DIRECTOR	Management	For	For
1.6	ELECT HIPPEAU AS A DIRECTOR	Management	For	For
1.7	ELECT QUAZZO AS A DIRECTOR	Management	For	For
1.8	ELECT RYDER AS A DIRECTOR	Management	For	For
1.9	ELECT YIH AS A DIRECTOR	Management	For	For
1.10	ELECT YOUNGBLOOD AS A DIRECTOR	Management	For	For
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, 2006.	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: SUNSTONE HOTEL INVESTORS, INC. MEETING DATE: 05/02/2006
TICKER: SHO     SECURITY ID: 867892101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT A. ALTER AS A DIRECTOR	Management	For	For
1.2	ELECT LEWIS N. WOLFF AS A DIRECTOR	Management	For	For
1.3	ELECT Z. JAMIE BEHAR AS A DIRECTOR	Management	For	For
1.4	ELECT ANTHONY W. DONA AS A DIRECTOR	Management	For	For
1.5	ELECT THOMAS A. LEWIS AS A DIRECTOR	Management	For	For
1.6	ELECT KEITH M. LOCKER AS A DIRECTOR	Management	For	For
1.7	ELECT KEITH P. RUSSELL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE AUDIT COMMITTEE S APPOINTMENT OF ERNST & YOUNG LLP TO ACT AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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 RYLAND GROUP, INC. MEETING DATE: 04/26/2006
TICKER: RYL     SECURITY ID: 783764103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT R. CHAD DREIER AS A DIRECTOR	Management	For	For
1.2	ELECT DANIEL T. BANE AS A DIRECTOR	Management	For	For
1.3	ELECT LESLIE M. FRECON AS A DIRECTOR	Management	For	For
1.4	ELECT ROLAND A. HERNANDEZ AS A DIRECTOR	Management	For	For
1.5	ELECT WILLIAM L. JEWS AS A DIRECTOR	Management	For	For
1.6	ELECT NED MANSOUR AS A DIRECTOR	Management	For	For
1.7	ELECT ROBERT E. MELLOR AS A DIRECTOR	Management	For	For
1.8	ELECT NORMAN J. METCALFE AS A DIRECTOR	Management	For	For
1.9	ELECT CHARLOTTE ST. MARTIN AS A DIRECTOR	Management	For	For
1.10	ELECT PAUL J. VARELLO AS A DIRECTOR	Management	For	For
1.11	ELECT JOHN O. WILSON AS A DIRECTOR	Management	For	For
2	APPROVAL OF THE RYLAND GROUP, INC. 2006 NON-EMPLOYEE DIRECTOR STOCK PLAN.	Management	For	Against
3	CONSIDERATION OF A PROPOSAL FROM THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS PENSION BENEFIT FUND (A STOCKHOLDER) REQUESTING STOCKHOLDER APPROVAL OF FUTURE SEVERANCE AGREEMENTS FOR SENIOR EXECUTIVES THAT PROVIDE BENEFITS EXCEEDING 2.99 TIMES THE SUM OF THE EXECUTIVES BASE SALARY PLUS BONUS.	Shareholder	Against	Against
4	CONSIDERATION OF A PROPOSAL FROM THE INDIANA STATE DISTRICT COUNCIL OF LABORERS AND HOD CARRIERS PENSION FUND (A STOCKHOLDER) REQUESTING STOCKHOLDER APPROVAL OF ANY FUTURE EXTRAORDINARY RETIREMENT BENEFITS FOR SENIOR EXECUTIVES.	Shareholder	Against	Against
5	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS RYLAND S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: THORNBURG MORTGAGE, INC. MEETING DATE: 04/18/2006
TICKER: TMA     SECURITY ID: 885218107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT GARRETT THORNBURG* AS A DIRECTOR	Management	For	For
1.2	ELECT JOSEPH H. BADAL* AS A DIRECTOR	Management	For	For
1.3	ELECT ELIOT R. CUTLER* AS A DIRECTOR	Management	For	For
1.4	ELECT STUART C. SHERMAN* AS A DIRECTOR	Management	For	For
1.5	ELECT MICHAEL B. JEFFERS** AS A DIRECTOR	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TRIZEC PROPERTIES, INC. MEETING DATE: 05/18/2006
TICKER: TRZ     SECURITY ID: 89687P107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT PETER MUNK AS A DIRECTOR	Management	For	For
1.2	ELECT TIMOTHY CALLAHAN AS A DIRECTOR	Management	For	For
1.3	ELECT L. JAY CROSS AS A DIRECTOR	Management	For	For
1.4	ELECT BRIAN MULRONEY AS A DIRECTOR	Management	For	For
1.5	ELECT JAMES O'CONNOR AS A DIRECTOR	Management	For	For
1.6	ELECT GLENN RUFRANO AS A DIRECTOR	Management	For	For
1.7	ELECT RICHARD THOMSON AS A DIRECTOR	Management	For	For
1.8	ELECT POLYVIOS VINTIADIS AS A DIRECTOR	Management	For	For
2	APPROVE THE ADOPTION OF THE TRIZEC PROPERTIES, INC. AMENDED AND RESTATED EMPLOYEE STOCK PURCHASE PLAN.	Management	For	For
3	RATIFY THE RE-APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS TRIZEC S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: TRUSTREET PROPERTIES, INC. MEETING DATE: 06/22/2006
TICKER: TSY     SECURITY ID: 898404108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ROBERT A. BOURNE AS A DIRECTOR	Management	For	For
1.2	ELECT G. STEVEN DAWSON AS A DIRECTOR	Management	For	For
1.3	ELECT G. RICHARD HOSTETTER AS A DIRECTOR	Management	For	For
1.4	ELECT RICHARD C. HUSEMAN AS A DIRECTOR	Management	For	For
1.5	ELECT JAMES H. KROPP AS A DIRECTOR	Management	For	For
1.6	ELECT J. JOSEPH KRUSE AS A DIRECTOR	Management	For	For
1.7	ELECT CURTIS B. MCWILLIAMS AS A DIRECTOR	Management	For	For
1.8	ELECT JAMES M. SENEFF, JR. AS A DIRECTOR	Management	For	For
2	THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006.	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: UNITED DOMINION REALTY TRUST, INC. MEETING DATE: 05/02/2006
TICKER: UDR     SECURITY ID: 910197102
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, 2006.	Management	For	For
3	PROPOSAL TO RATIFY AND APPROVE THE 1999 LONG-TERM INCENTIVE PLAN.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: VENTAS, INC. MEETING DATE: 05/19/2006
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 JAY M. GELLERT AS A DIRECTOR	Management	For	For
1.4	ELECT RONALD G. GEARY AS A DIRECTOR	Management	For	For
1.5	ELECT CHRISTOPHER T. HANNON AS A DIRECTOR	Management	For	For
1.6	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1.7	ELECT THOMAS C. THEOBALD AS A DIRECTOR	Management	For	For
2	DIRECTORS PROPOSAL: TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE INDEPENDENT AUDITORS FOR FISCAL YEAR 2006.	Management	For	For
3	DIRECTORS PROPOSAL: TO APPROVE THE ADOPTION OF THE VENTAS, INC. 2006 INCENTIVE PLAN.	Management	For	Against
4	DIRECTORS PROPOSAL: TO APPROVE THE ADOPTION OF THE VENTAS, INC. 2006 STOCK PLAN FOR DIRECTORS.	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: VORNADO REALTY TRUST MEETING DATE: 05/18/2006
TICKER: VNO     SECURITY ID: 929042109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT STEVEN ROTH AS A DIRECTOR	Management	For	For
1.2	ELECT MICHAEL D. FASCITELLI AS A DIRECTOR	Management	For	For
1.3	ELECT RUSSELL B. WIGHT, JR. AS A DIRECTOR	Management	For	For
2	APPROVAL OF FULL ALLOTMENT OF SHARES AVAILABLE UNDER THE 2002 OMNIBUS SHARE PLAN, AS AMENDED.	Management	For	Against
3	RATIFICATION OF SELECTION OF 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.

POWER OF ATTORNEY

I, the undersigned Treasurer of the following investment companies:

Colchester Street Trust Fidelity Aberdeen Street Trust Fidelity Advisor Series I Fidelity Advisor Series II Fidelity Advisor Series IV Fidelity Advisor Series VIII Fidelity California Municipal Trust Fidelity Capital Trust Fidelity Central Investment Portfolios LLC Fidelity Charles Street Trust Fidelity Commonwealth Trust Fidelity Concord Street Trust Fidelity Contrafund Fidelity Court Street Trust Fidelity Court Street Trust II Fidelity Destiny Portfolios Fidelity Devonshire Trust Fidelity Financial Trust Fidelity Hastings Street Trust Fidelity Hereford Street Trust Fidelity Investment Trust Fidelity Magellan Fund Fidelity Massachusetts Municipal Trust Fidelity Money Market Trust Fidelity School Street Trust Fidelity Union Street Trust Fidelity Union Street Trust II Newbury Street Trust Variable Insurance Products Fund Variable Insurance Products Fund II Variable Insurance Products Fund III Variable Insurance Products Fund IV

plus any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individual serves as Treasurer (collectively, the "Funds"), hereby constitute and appoint Nicholas Steck and Claire Walpole my true and lawful attorneys-in-fact, each of them singly, with full power of substitution, and with full power to sign for me and in my name in the appropriate capacities, all Reports of the Proxy Voting Records of the Funds on Form N-PX under the Investment Company Act of 1940, as amended (the "Act"), or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate to cause such Form to be completed and filed in accordance with the Act and all related requirements of the Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitute may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after August 1, 2006.

WITNESS my hand on this 31st of July 2006.

/s/ Christine Reynolds

Christine Reynolds

Treasurer