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Geode Capital Management is a quantitatively-based institutional investment manager headquartered in Boston. We manage a variety of beta strategies in global equities, commodities, thematic, and 130/30, as well as a variety of absolute return strategies including global market neutral, statistical arbitrage, convertible arbitrage, and global relative value. As of March 31, 2009, assets under management exceeded $52 Billion, including sub-advised index and enhanced index mandates.

FOR IMMEDIATE RELEASE

GEODE NAMES VINCE GUBITOSI, CURRENTLY CIO OF ABSOLUTE RETURN STRATEGIES, AS INTERIM PRESIDENT OF THE FIRM

Current President Jacques Perold
Tapped by Fidelity Investments for
Senior Investment Management Position

BOSTON, May 21, 2009 – Geode Capital Management, LLC, today named Vince Gubitosi, currently chief investment officer of absolute return strategies, as interim president of the firm. He succeeds Jacques P. Perold, who was named to the newly created position of chief operating officer of Asset Management at Fidelity Investments.

“As chief investment officer of absolute return strategies, Vince has done a great job overseeing day-to-day investing activities across the firm,” said Geode Chairman Timothy T. Hilton. “We are sorry to lose Jacques, but at the same time, we are exceptionally fortunate to have a deep and capable team at Geode.”

Except for a brief stint at another investment firm, Gubitosi has been at Geode since 2002. He has managed portfolios, developed a number of investment strategies, and served as chief investment officer of absolute return strategies since May 2008.

Perold served as president of Geode since the firm was founded in 2001 as a Fidelity subsidiary, building it from a start-up to managing more than $52 billion for institutional clients. Geode reorganized as an independent company in 2003.

Geode Capital Management, LLC, is a quantitatively based institutional investment manager headquartered in Boston. The firm manages a variety of beta strategies in global equities, commodities, and 130/30, as well as a variety of absolute return strategies in global market neutral, statistical arbitrage, convertible arbitrage, and global relative value.


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