Fidelity Income Trust Fund issues statement

TORONTO, Feb. 22 /CNW/ - In a Globe and Mail article dated February 19, 2010, changes related to the Fidelity Income Trust Fund's investment objective and investment strategies were discussed in response to the Federal Government's new tax on distributions from publicly traded income trusts, scheduled for January 1, 2011. While the manager of the Fidelity Income Trust Fund, Fidelity Investments Canada ULC, is currently reviewing the investment objective and investment strategies of the Fund in response to this change, no decision on a proposal has been made or approved. Any proposed changes to the Fund's investment objective or investment strategies require approval from the majority of unitholders who vote at a special meeting called by Fidelity Investments Canada ULC. The investment objective of the Fidelity Income Trust Fund remains to invest primarily in income trusts and other securities that are expected to distribute income. Similarly, the investment strategies remain as described in the Fund's Simplified Prospectus.

About Fidelity Investments

Fidelity Investments Canada ULC is the country's sixth largest mutual fund company and part of the Fidelity Investments organization of Boston, one of the world's largest providers of financial services. In Canada, Fidelity manages over $53 billion in mutual fund and institutional assets. This includes $10 billion in assets for institutional clients including public and corporate defined benefit pension plans, endowments, foundations and other corporate assets on behalf of clients across Canada.

Fidelity Canada provides Canadian investors a full range of domestic, international and income oriented mutual funds. Fidelity funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies. Fidelity is a proud supporter of the Boys and Girls Clubs of Canada and we are dedicated to helping young Canadians realize their full potential as productive, responsible and caring citizens.

For further information: Chris Pepper, Director, Corporate Affairs, Phone: [phone], Email: [email protected]