N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-2737

Fidelity Summer Street Trust
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices) (Zip code)

Eric D. Roiter, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

December 31

Date of reporting period:

March 31, 2008

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® New Markets Income Fund

March 31, 2008

1.799864.104

NMI-QTLY-0508

Investments March 31, 2008 (Unaudited)

Showing Percentage of Net Assets

Nonconvertible Bonds - 15.3%

Principal
Amount (d)

Value

Bahamas (Nassau) - 0.3%

Odebrecht Overseas Ltd. 9.625%

$ 5,589,000

$ 5,812,560

Brazil - 0.4%

Banco Nacional de Desenvolvimento Economico e Social 5.33% 6/16/08 (g)

8,165,000

8,185,413

Dominican Republic - 0.2%

Cerveceria Nacional Dominicana C por A 16% 3/27/12 (f)

3,835,000

3,624,842

Germany - 1.4%

JSC Severstal 9.25% 4/19/14 (Issued by Citigroup Global Markets Deutschland AG for JSC Severstal) (f)

9,310,000

9,915,150

Kyivstar GSM:

7.75% 4/27/12 (Issued by Dresdner Bank AG for Kyivstar GSM) (f)

9,865,000

9,914,325

10.375% 8/17/09 (Issued by Dresdner Bank AG for Kyivstar GSM) (f)

7,105,000

7,442,488

10.375% 8/17/09 (Issued by Dresdner Bank AG for Kyivstar GSM)

2,320,000

2,430,200

TOTAL GERMANY

29,702,163

Indonesia - 0.0%

APP International Finance (Mauritius) Ltd.:

0% 7/5/01 (c)(f)

4,420,000

110,500

0% 7/5/01 (Reg. S) (c)

1,335,000

33,375

TOTAL INDONESIA

143,875

Korea (South) - 0.5%

Hanarotelecom, Inc. 7% 2/1/12 (f)

9,570,000

9,665,700

Luxembourg - 3.9%

Millicom International Cellular SA 10% 12/1/13

8,935,000

9,515,775

Mobile Telesystems Finance SA:

8% 1/28/12

11,496,000

11,725,920

8% 1/28/12 (f)

12,640,000

12,892,800

8.375% 10/14/10 (f)

4,110,000

4,259,193

8.375% 10/14/10 (Reg. S)

5,520,000

5,720,376

OJSC Russian Agricultural Bank:

6.299% 5/15/17 (Issued by RSHB Capital SA for OJSC Russian Agricultural Bank) (f)

8,180,000

7,576,725

6.97% 9/21/16 (Issued by RSHB Capital SA for OJSC Russian Agricultural Bank) (e)

2,185,000

2,113,988

7.175% 5/16/13 (Issued by RSHB Capital SA for OJSC Russian Agricultural Bank) (f)

4,930,000

5,003,950

Nonconvertible Bonds - continued

Principal
Amount (d)

Value

Luxembourg - continued

TNK-BP Finance SA 7.5% 3/13/13 (f)

$ 5,945,000

$ 5,863,554

Vimpel Communications 8.25% 5/23/16 (Issued by UBS Luxembourg SA for Vimpel Communications)

19,320,000

19,007,016

TOTAL LUXEMBOURG

83,679,297

Malaysia - 0.9%

Penerbangan Malaysia Bhd 5.625% 3/15/16 (Reg. S)

6,370,000

6,726,720

Petronas Capital Ltd.:

7% 5/22/12

4,635,000

5,152,266

7.875% 5/22/22 (Reg. S)

5,400,000

6,727,320

TOTAL MALAYSIA

18,606,306

Mexico - 0.3%

Cablemas SA de CV 9.375% 11/15/15 (Reg. S)

5,260,000

5,746,550

Netherlands - 1.4%

Bulgaria Steel Finance BV 12% 5/4/13

EUR

5,100,000

4,991,533

Lukoil International Finance BV:

6.356% 6/7/17 (f)

12,220,000

11,318,775

6.656% 6/7/22 (f)

8,145,000

7,137,056

PT Indosat International Finance Co. BV 7.125% 6/22/12 (f)

7,430,000

7,522,875

TOTAL NETHERLANDS

30,970,239

Philippines - 0.4%

Development Bank of Philippines 8.375% (g)

3,485,000

3,615,688

National Power Corp. 6.875% 11/2/16 (f)

5,485,000

5,539,850

TOTAL PHILIPPINES

9,155,538

Russia - 0.2%

OAO TMK 8.5% 9/29/09 (Issued by TMK Capital SA for OAO TMK)

4,600,000

4,697,520

Singapore - 0.3%

Empire Capital Resources Pte. Ltd. 9.375% 12/15/11 (f)

5,370,000

5,692,200

United Kingdom - 0.8%

City of Kiev 8% 11/6/15 (Issued by Credit Suisse First Boston International for City of Kiev) (f)

9,980,000

9,556,848

Ex-Im Ukraine 7.65% 9/7/11 (Issued by Credit Suisse London Branch for Ex-Im Ukraine)

4,390,000

4,400,975

NJSC Naftogaz of Ukraine 8.125% 9/30/09 (Issued by Standard Bank PLC for NJSC Naftogaz of Ukraine)

4,200,000

4,053,000

TOTAL UNITED KINGDOM

18,010,823

Nonconvertible Bonds - continued

Principal
Amount (d)

Value

United States of America - 2.7%

Freeport-McMoRan Copper & Gold, Inc.:

8.25% 4/1/15

$ 10,965,000

$ 11,540,663

8.3944% 4/1/15 (g)

7,730,000

7,614,050

Pemex Project Funding Master Trust:

6.625% 6/15/35

15,190,000

15,607,725

6.625% 6/15/35 (f)

2,295,000

2,369,588

8.625% 2/1/22

16,955,000

21,473,508

TOTAL UNITED STATES OF AMERICA

58,605,534

Venezuela - 1.6%

Petroleos de Venezuela SA:

5.25% 4/12/17

22,375,000

14,599,688

5.375% 4/12/27

22,330,000

12,839,750

5.5% 4/12/37

11,875,000

6,679,688

TOTAL VENEZUELA

34,119,126

TOTAL NONCONVERTIBLE BONDS

(Cost $338,525,270)

326,417,686

Government Obligations - 66.5%

Argentina - 3.1%

Argentine Republic:

discount (with partial capitalization through 12/31/13) 8.28% 12/31/33

27,657,576

22,748,356

par 1.33% 12/31/38 (g)

37,065,000

13,343,400

7% 9/12/13

28,675,000

23,523,058

8.375% 12/20/03 (c)

12,860,000

3,858,000

11% 10/9/06 (c)

3,010,000

933,100

11.75% 4/7/09 (c)

4,145,000

1,243,500

TOTAL ARGENTINA

65,649,414

Belize - 0.1%

Belize Government 4.25% 2/20/29 (e)(f)

4,137,600

2,989,416

Brazil - 9.2%

Brazilian Federative Republic:

7.125% 1/20/37

22,625,000

24,367,125

8% 1/15/18

14,245,000

15,975,768

8.25% 1/20/34

12,615,000

15,106,463

8.75% 2/4/25

25,690,000

31,598,700

8.875% 10/14/19

12,625,000

15,591,875

Government Obligations - continued

Principal
Amount (d)

Value

Brazil - continued

Brazilian Federative Republic: - continued

8.875% 4/15/24

$ 16,615,000

$ 20,602,600

10.125% 5/15/27

7,325,000

10,145,125

11% 8/17/40

16,195,000

21,685,105

12.25% 3/6/30

12,770,000

21,198,200

12.75% 1/15/20

13,455,000

20,922,525

TOTAL BRAZIL

197,193,486

Colombia - 3.0%

Colombian Republic:

7.375% 9/18/37

17,145,000

18,388,013

8.125% 5/21/24

2,665,000

3,111,388

10.375% 1/28/33

3,750,000

5,418,750

10.75% 1/15/13

8,030,000

9,977,275

11.75% 2/25/20

17,851,000

26,330,225

TOTAL COLOMBIA

63,225,651

Congo - 0.4%

Congo Republic 2.5% 6/30/29 (e)

13,984,000

7,551,360

Dominican Republic - 0.2%

Dominican Republic 9.04% 1/23/18 (f)

3,890,998

4,105,003

Ecuador - 1.2%

Ecuador Republic:

9.375% 12/15/15 (f)

4,155,000

4,206,938

10% 8/15/30 (Reg. S)

19,745,000

19,152,650

12% 11/15/12 (f)

826,200

838,593

12% 11/15/12 (Reg. S)

2,358,240

2,393,614

TOTAL ECUADOR

26,591,795

Egypt - 0.6%

Arab Republic of Egypt 8.75% 7/18/12 (f)

EGP

70,170,000

13,050,399

El Salvador - 0.5%

El Salvador Republic:

7.75% 1/24/23 (Reg. S)

5,830,000

6,500,450

8.25% 4/10/32 (Reg. S)

3,585,000

4,086,900

TOTAL EL SALVADOR

10,587,350

Fiji - 0.2%

Republic of Fiji 6.875% 9/13/11

5,835,000

5,134,800

Gabon - 1.0%

Gabonese Republic 8.2% 12/12/17 (f)

20,920,000

21,966,000

Government Obligations - continued

Principal
Amount (d)

Value

Ghana - 1.0%

Ghana Republic 8.5% 10/4/17 (f)

$ 19,950,000

$ 20,723,063

Indonesia - 1.0%

Indonesian Republic:

7.5% 1/15/16 (f)

5,715,000

6,200,775

8.5% 10/12/35 (f)

13,385,000

15,058,125

TOTAL INDONESIA

21,258,900

Iraq - 0.6%

Republic of Iraq 5.8% 1/15/28 (Reg. S)

19,330,000

13,482,675

Ivory Coast - 1.4%

Ivory Coast:

FLIRB 4% 3/29/18 (Reg. S) (c)(g)

42,380,100

16,422,289

past due interest 3% 3/30/18 (Reg. S) (c)(g)

33,283,250

12,897,259

TOTAL IVORY COAST

29,319,548

Lebanon - 2.5%

Lebanese Republic:

7.125% 3/5/10

9,710,000

9,515,800

7.875% 5/20/11 (Reg. S)

7,305,000

7,094,981

8.1563% 11/30/09 (f)(g)

8,695,000

8,564,575

8.1563% 11/30/09 (Reg. S) (g)

2,470,000

2,432,950

10.125% 8/6/08

5,370,000

5,410,275

10.25% 10/6/09 (Reg. S)

5,015,000

5,152,913

11.625% 5/11/16 (Reg. S)

12,565,000

14,167,038

TOTAL LEBANON

52,338,532

Malaysia - 0.4%

Malaysian Government:

7.5% 7/15/11

3,860,000

4,308,146

8.75% 6/1/09

3,860,000

4,106,268

TOTAL MALAYSIA

8,414,414

Mexico - 6.4%

United Mexican States:

6.75% 9/27/34

31,920,000

35,552,496

7.5% 4/8/33

10,380,000

12,573,294

8.125% 12/30/19

13,337,000

16,871,305

8.3% 8/15/31

20,450,000

26,816,085

11.375% 9/15/16

10,850,000

15,800,855

11.5% 5/15/26

17,480,000

29,191,600

TOTAL MEXICO

136,805,635

Government Obligations - continued

Principal
Amount (d)

Value

Pakistan - 0.4%

Islamic Republic of Pakistan:

6.875% 6/1/17 (f)

$ 2,855,000

$ 2,455,300

7.125% 3/31/16 (f)

6,185,000

5,380,950

TOTAL PAKISTAN

7,836,250

Panama - 0.7%

Panamanian Republic:

7.125% 1/29/26

5,370,000

5,799,600

8.875% 9/30/27

7,220,000

9,187,450

TOTAL PANAMA

14,987,050

Peru - 0.9%

Peruvian Republic:

7.35% 7/21/25

11,160,000

12,555,000

9.875% 2/6/15

5,695,000

7,170,005

TOTAL PERU

19,725,005

Philippines - 6.4%

Philippine Republic:

6.375% 1/15/32

2,275,000

2,195,375

7.75% 1/14/31

14,075,000

15,711,923

8.875% 3/17/15

13,520,000

16,021,200

9% 2/15/13

16,640,000

19,427,200

9.375% 1/18/17

12,905,000

16,131,250

9.5% 2/2/30

15,085,000

19,705,536

9.875% 1/15/19

20,625,000

26,503,125

10.625% 3/16/25

15,360,000

21,465,600

TOTAL PHILIPPINES

137,161,209

Russia - 7.7%

Russian Federation:

7.5% 3/31/30 (Reg. S)

96,005,488

110,526,303

11% 7/24/18 (Reg. S)

14,407,000

20,926,168

12.75% 6/24/28 (Reg. S)

17,742,000

32,002,133

TOTAL RUSSIA

163,454,604

Serbia - 0.3%

Republic of Serbia 3.75% 11/1/24 (e)(f)

7,545,000

6,922,538

Sri Lanka - 0.2%

Government of the Democratic Socialist Republic of Sri Lanka 9.75% 4/1/08

LKR

455,600,000

4,207,327

Government Obligations - continued

Principal
Amount (d)

Value

Turkey - 7.1%

Turkish Republic:

6.75% 4/3/18

$ 18,630,000

$ 18,490,275

6.875% 3/17/36

16,310,000

14,638,225

7% 9/26/16

11,100,000

11,349,750

7% 6/5/20

12,275,000

12,182,938

7.25% 3/5/38

7,775,000

7,318,219

7.375% 2/5/25

5,895,000

5,895,000

8% 2/14/34

9,770,000

10,148,588

9.5% 1/15/14

13,950,000

16,338,938

11% 1/14/13

16,660,000

20,304,375

11.5% 1/23/12

12,540,000

15,142,050

11.875% 1/15/30

13,775,000

20,455,875

TOTAL TURKEY

152,264,233

Ukraine - 1.4%

Ukraine Government:

6.385% 6/26/12 (f)

8,095,000

8,175,950

6.75% 11/14/17 (f)

7,470,000

7,366,914

6.875% 3/4/11 (Reg. S)

3,855,000

3,980,288

7.65% 6/11/13 (Reg. S)

9,285,000

9,877,383

TOTAL UKRAINE

29,400,535

United States of America - 0.4%

U.S. Treasury Bonds 4.375% 2/15/38

7,800,000

7,892,625

Uruguay - 1.2%

Uruguay Republic:

7.875% 1/15/33 pay-in-kind

8,393,307

8,771,006

8% 11/18/22

12,310,000

13,171,700

9.25% 5/17/17

3,315,000

3,928,275

TOTAL URUGUAY

25,870,981

Venezuela - 6.6%

Venezuelan Republic:

oil recovery rights 4/15/20 (h)

171,700

6,352,900

8.5% 10/8/14

17,235,000

15,985,463

9.25% 9/15/27

26,400,000

25,080,000

9.375% 1/13/34

11,545,000

10,707,988

10.75% 9/19/13

56,210,000

57,755,775

13.625% 8/15/18

20,503,000

24,911,145

TOTAL VENEZUELA

140,793,271

Government Obligations - continued

Principal
Amount (d)

Value

Vietnam - 0.4%

Vietnamese Socialist Republic 6.875% 1/15/16 (f)

$ 7,970,000

$ 8,448,200

TOTAL GOVERNMENT OBLIGATIONS

(Cost $1,347,747,769)

1,419,351,269

Supranational Obligations - 0.2%

European Bank for Reconstruction and Development 6.5% 12/20/10
(Cost $3,871,566)

RUB

95,000,000

3,998,744

Common Stocks - 0.0%

Shares

Bulgaria - 0.0%

Kremikovtzi Corp. warrants (GSHL Bulgaria SA Warrant Program) 5/4/11 (a)
(Cost $2,203)

51

1

Investment Companies - 4.7%

United States of America - 4.7%

iShares MSCI Emerging Markets Index Fund
(Cost $96,965,691)

740,000

99,441,200

Preferred Securities - 4.0%

Principal
Amount (d)

Brazil - 1.6%

Globo Comunicacoes e Participacoes SA 9.375%

$ 22,585,000

23,506,161

Net Servicos de Comunicacao SA 9.25% (f)

10,220,000

10,664,357

TOTAL BRAZIL

34,170,518

United States of America - 2.4%

Pemex Project Funding Master Trust 7.75%

50,276,000

51,137,318

TOTAL PREFERRED SECURITIES

(Cost $84,467,628)

85,307,836

Money Market Funds - 7.4%

Shares

Fidelity Cash Central Fund, 2.69% (b)
(Cost $157,842,598)

157,842,598

157,842,598

Purchased Options - 0.0%

Expiration Date/Strike Price

Underlying Face Amount

Value

Venezuela - 0.0%

Lehman Brothers Holdings, Inc. Call Option on $19,330,000 notional amount of Venezuelan Republic 9.25% 9/15/27
(Cost $869,850)

May 2008/
$99.00

$ 18,363,500

$ 181,702

TOTAL INVESTMENT PORTFOLIO - 98.1%

(Cost $2,030,292,575)

2,092,541,036

NET OTHER ASSETS - 1.9%

40,959,709

NET ASSETS - 100%

$ 2,133,500,745

Security Type Abbreviation

FLIRB - Front Loaded Interest
Reduction Bonds

Currency Abbreviations

EGP

-

Egyptian pound

EUR

-

European Monetary Unit

LKR

-

Sri Lankan rupee

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Non-income producing - Issuer is in default.

(d) Principal amount is stated in United States dollars unless otherwise noted.

(e) Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $272,523,515 or 12.8% of net assets.

(g) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(h) Quantity represents share amount.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 1,204,665

Other Information

The following is a summary of the inputs used, as of March 31, 2008, involving the Fund's assets carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities

$ 2,092,541,036

$ 257,283,798

$ 1,835,257,238

$ -

The following is a reconciliation of assets for which Level 3 inputs were used in determining value:

Investments in Securities

Beginning Balance

$ 212,540

Total Realized Gain (Loss)

(418,053)

Total Unrealized Gain (Loss)

1,841,513

Cost of Purchases

-

Proceeds of Sales

(1,636,000)

Amortization/Accretion

-

Transfer in/out of Level 3

-

Ending Balance

$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investment Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At March 31, 2008, the aggregate cost of investment securities for income tax purposes was $2,035,754,653. Net unrealized appreciation aggregated $56,786,383, of which $99,888,895 related to appreciated investment securities and $43,102,512 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the Fund uses independent pricing services approved by the Board of Trustees to value its investments.

Debt securities, including restricted securities, are valued by independent pricing services or by dealers who make markets in such securities. Pricing services consider yield or price of bonds of comparable quality, coupon, maturity and type as well as available dealer supplied prices. Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price. Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price. Options traded over-the-counter are valued using dealer-supplied valuations. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value.

When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value calculation under these procedures may differ from published prices for the same securities.

The Fund adopted the provisions of Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (SFAS 157), effective with the beginning of the Fund's fiscal year. SFAS 157 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under SFAS 157 are described below:

Level 1 - Quoted prices in active markets for identical securities.

Level 2 - Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.

Level 3 - Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Summer Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Summer Street Trust

By:

/s/Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

May 30, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/ Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

May 30, 2008

By:

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

Date:

May 30, 2008