FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

INVESTMENT COMPANY ACT FILE NUMBER: 811-01352

EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: Fidelity Devonshire Trust

Fund Name: Fidelity Real Estate Investment Portfolio

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

SCOTT C.GOEBEL, SECRETARY, 82 DEVONSHIRE STREET, BOSTON, MA 02109
(NAME AND ADDRESS OF AGENT FOR SERVICE)

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

DATE OF FISCAL YEAR END: JULY 31

DATE OF REPORTING PERIOD: 06/30/2008

SIGNATURES

PURSUANT TO THE REQUIREMENTS OF THE INVESTMENT COMPANY ACT OF 1940, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, THERE UNTO DULY AUTHORIZED.

Fidelity Devonshire Trust

BY:  /s/ KENNETH B. ROBINS*
KENNETH B. ROBINS, TREASURER
DATE: 08/13/2008 11:05:36 AM

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

VOTE SUMMARY REPORT
Fidelity Real Estate Investment Portfolio
07/01/2007- 06/30/2008

Note: The Security ID will be the CUSIP (Committee on Uniform Securities Identification Procedures) when available. When CUSIP is not available, an alternate identifier, e.g., CINS, will be provided.

ISSUER NAME: ALEXANDRIA REAL ESTATE EQUITIES, INC. MEETING DATE: 05/22/2008
TICKER: ARE     SECURITY ID: 015271109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOEL S. MARCUS AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JAMES H. RICHARDSON AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT RICHARD B. JENNINGS AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT JOHN L. ATKINS, III AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT RICHARD H. KLEIN AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT MARTIN A. SIMONETTI AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT ALAN G. WALTON AS A DIRECTOR	Management	For	Withhold
2	APPROVAL OF AN AMENDMENT AND RESTATEMENT OF THE COMPANY S 1997 STOCK AWARD AND INCENTIVE PLAN.	Management	For	For
3	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: APARTMENT INVESTMENT AND MANAGEMENT CO. MEETING DATE: 04/28/2008
TICKER: AIV     SECURITY ID: 03748R101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JAMES N. BAILEY AS A DIRECTOR	Management	For	For
1. 2	ELECT TERRY CONSIDINE AS A DIRECTOR	Management	For	For
1. 3	ELECT RICHARD S. ELLWOOD AS A DIRECTOR	Management	For	For
1. 4	ELECT THOMAS L. KELTNER AS A DIRECTOR	Management	For	For
1. 5	ELECT J. LANDIS MARTIN AS A DIRECTOR	Management	For	For
1. 6	ELECT ROBERT A. MILLER AS A DIRECTOR	Management	For	For
1. 7	ELECT THOMAS L. RHODES AS A DIRECTOR	Management	For	For
1. 8	ELECT MICHAEL A. STEIN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP, TO SERVE AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: AVALONBAY COMMUNITIES, INC. MEETING DATE: 05/21/2008
TICKER: AVB     SECURITY ID: 053484101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BRYCE BLAIR AS A DIRECTOR	Management	For	For
1. 2	ELECT BRUCE A. CHOATE AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHN J. HEALY, JR. AS A DIRECTOR	Management	For	For
1. 4	ELECT GILBERT M. MEYER AS A DIRECTOR	Management	For	For
1. 5	ELECT TIMOTHY J. NAUGHTON AS A DIRECTOR	Management	For	For
1. 6	ELECT LANCE R. PRIMIS AS A DIRECTOR	Management	For	For
1. 7	ELECT PETER S. RUMMELL AS A DIRECTOR	Management	For	For
1. 8	ELECT H. JAY SARLES AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BOSTON PROPERTIES, INC. MEETING DATE: 05/12/2008
TICKER: BXP     SECURITY ID: 101121101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT LAWRENCE S. BACOW AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT ZOE BAIRD AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT ALAN J. PATRICOF AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT MARTIN TURCHIN AS A DIRECTOR	Management	For	Withhold
2	TO RATIFY THE AUDIT COMMITTEE S APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS BOSTON PROPERTIES, INC. S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO CONSIDER AND ACT UPON A STOCKHOLDER PROPOSAL CONCERNING THE ANNUAL ELECTION OF DIRECTORS, IF PROPERLY PRESENTED AT THE ANNUAL MEETING.	Shareholder	Against	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BROOKFIELD PROPERTIES CORPORATION MEETING DATE: 04/24/2008
TICKER: BPO     SECURITY ID: 112900105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	THE SPECIAL RESOLUTION TO DECREASE THE NUMBER OF DIRECTORS FROM 13 TO 12, AS MORE PARTICULARLY DESCRIBED IN THE CORPORATION S MANAGEMENT PROXY CIRCULAR DATED MARCH 17, 2008;	Management	For	For
2	THE AMENDMENT OF THE CORPORATION S SHARE OPTION PLAN TO INCREASE THE NUMBER OF SHARES AUTHORIZED FOR ISSUANCE PURSUANT TO THE PLAN, AS MORE PARTICULARLY DESCRIBED IN THE CORPORATION S MANAGEMENT PROXY CIRCULAR DATED MARCH 17, 2008;	Management	For	Against
3. 1	ELECT MR. GORDON E. ARNELL AS A DIRECTOR	Management	For	For
3. 2	ELECT MR. WILLIAM T. CAHILL AS A DIRECTOR	Management	For	For
3. 3	ELECT MR. RICHARD B. CLARK AS A DIRECTOR	Management	For	For
3. 4	ELECT MR. JACK L. COCKWELL AS A DIRECTOR	Management	For	For
3. 5	ELECT MR. J. BRUCE FLATT AS A DIRECTOR	Management	For	For
3. 6	ELECT MR. RODERICK D. FRASER AS A DIRECTOR	Management	For	For
3. 7	ELECT MR. PAUL D. MCFARLANE AS A DIRECTOR	Management	For	For
3. 8	ELECT MR. ALLAN S. OLSON AS A DIRECTOR	Management	For	For
3. 9	ELECT MS. LINDA D. RABBITT AS A DIRECTOR	Management	For	For
3. 10	ELECT MR. ROBERT L. STELZL AS A DIRECTOR	Management	For	For
3. 11	ELECT MS. DIANA L. TAYLOR AS A DIRECTOR	Management	For	For
3. 12	ELECT MR. JOHN E. ZUCCOTTI AS A DIRECTOR	Management	For	For
4	THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS AUDITORS AND AUTHORIZING THE DIRECTORS TO FIX THE AUDITORS REMUNERATION.	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: CEDAR SHOPPING CENTERS, INC. MEETING DATE: 09/12/2007
TICKER: CDR     SECURITY ID: 150602209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO AMEND THE ARTICLES OF INCORPORATION TO INCREASE AUTHORIZED COMMON STOCK	Management	For	For
2	TO AMEND THE ARTICLES OF INCORPORATION TO INCREASE AUTHORIZED PREFERRED STOCK AND PROHIBIT USE OF PREFERRED STOCK FOR ANTI-TAKEOVER PURPOSES	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: CEDAR SHOPPING CENTERS, INC. MEETING DATE: 06/17/2008
TICKER: CDR     SECURITY ID: 150602209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JAMES J. BURNS AS A DIRECTOR	Management	For	For
1. 2	ELECT RICHARD HOMBURG AS A DIRECTOR	Management	For	For
1. 3	ELECT PAMELA N. HOOTKIN AS A DIRECTOR	Management	For	For
1. 4	ELECT PAUL G. KIRK, JR. AS A DIRECTOR	Management	For	For
1. 5	ELECT EVERETT B. MILLER, III AS A DIRECTOR	Management	For	For
1. 6	ELECT LEO S. ULLMAN AS A DIRECTOR	Management	For	For
1. 7	ELECT ROGER M. WIDMANN AS A DIRECTOR	Management	For	For
2	TO AMEND THE 2004 STOCK INCENTIVE PLAN.	Management	For	Against
3	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CORPORATE OFFICE PROPERTIES TRUST MEETING DATE: 05/22/2008
TICKER: OFC     SECURITY ID: 22002T108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROBERT L. DENTON AS A DIRECTOR	Management	For	For
1. 2	ELECT RANDALL M. GRIFFIN AS A DIRECTOR	Management	For	For
2	ELIMINATION OF THE CLASSIFICATION OF OUR BOARD OF TRUSTEES.	Management	For	For
3	ADOPTION OF THE 2008 OMNIBUS EQUITY AND INCENTIVE PLAN.	Management	For	For
4	RATIFICATION OF THE APPOINTMENT 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.

ISSUER NAME: DCT INDUSTRIAL TRUST INC. MEETING DATE: 05/20/2008
TICKER: DCT     SECURITY ID: 233153105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT THOMAS G. WATTLES AS A DIRECTOR	Management	For	For
1. 2	ELECT PHILIP L. HAWKINS AS A DIRECTOR	Management	For	For
1. 3	ELECT PHILLIP R. ALTINGER AS A DIRECTOR	Management	For	For
1. 4	ELECT THOMAS F. AUGUST AS A DIRECTOR	Management	For	For
1. 5	ELECT JOHN S. GATES, JR. AS A DIRECTOR	Management	For	For
1. 6	ELECT TRIPP H. HARDIN AS A DIRECTOR	Management	For	For
1. 7	ELECT JAMES R. MULVIHILL AS A DIRECTOR	Management	For	For
1. 8	ELECT JOHN C. O'KEEFFE AS A DIRECTOR	Management	For	For
1. 9	ELECT BRUCE L. WARWICK AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF KPMG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: DEVELOPERS DIVERSIFIED REALTY CORP. MEETING DATE: 05/13/2008
TICKER: DDR     SECURITY ID: 251591103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DEAN S. ADLER AS A DIRECTOR	Management	For	For
1. 2	ELECT TERRANCE R. AHERN AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT H. GIDEL AS A DIRECTOR	Management	For	For
1. 4	ELECT VICTOR B. MACFARLANE AS A DIRECTOR	Management	For	For
1. 5	ELECT CRAIG MACNAB AS A DIRECTOR	Management	For	For
1. 6	ELECT SCOTT D. ROULSTON AS A DIRECTOR	Management	For	For
1. 7	ELECT BARRY A. SHOLEM AS A DIRECTOR	Management	For	For
1. 8	ELECT WILLIAM B. SUMMERS, JR. AS A DIRECTOR	Management	For	For
1. 9	ELECT SCOTT A. WOLSTEIN AS A DIRECTOR	Management	For	For
2	TO APPROVE THE 2008 DEVELOPERS DIVERSIFIED REALTY CORPORATION EQUITY-BASED AWARD PLAN.	Management	For	For
3	TO APPROVE AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED ARTICLES OF INCORPORATION TO ADOPT A MAJORITY VOTE STANDARD IN UNCONTESTED ELECTIONS OF DIRECTORS.	Management	For	For
4	TO APPROVE AN AMENDMENT TO THE COMPANY S AMENDED AND RESTATED ARTICLES OF INCORPORATION TO CHANGE THE PAR VALUE OF THE COMPANY S COMMON SHARES FROM WITHOUT PAR VALUE TO $0.10 PAR VALUE PER SHARE.	Management	For	For
5	TO RATIFY THE SELECTION OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT ACCOUNTANTS FOR THE COMPANY S FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: DIGITAL REALTY TRUST, INC. MEETING DATE: 05/05/2008
TICKER: DLR     SECURITY ID: 253868103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT RICHARD A. MAGNUSON AS A DIRECTOR	Management	For	For
1. 2	ELECT MICHAEL F. FOUST AS A DIRECTOR	Management	For	For
1. 3	ELECT LAURENCE A. CHAPMAN AS A DIRECTOR	Management	For	For
1. 4	ELECT KATHLEEN EARLEY AS A DIRECTOR	Management	For	For
1. 5	ELECT RUANN F. ERNST, PH.D. AS A DIRECTOR	Management	For	For
1. 6	ELECT DENNIS E. SINGLETON AS A DIRECTOR	Management	For	For
2	RATIFYING THE SELECTION OF KPMG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR THE YEAR ENDED DECEMBER 31, 2008	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: DUKE REALTY CORPORATION MEETING DATE: 04/30/2008
TICKER: DRE     SECURITY ID: 264411505
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BARRINGTON H. BRANCH AS A DIRECTOR	Management	For	For
1. 2	ELECT GEOFFREY BUTTON AS A DIRECTOR	Management	For	For
1. 3	ELECT WILLIAM CAVANAUGH III AS A DIRECTOR	Management	For	For
1. 4	ELECT NGAIRE E. CUNEO AS A DIRECTOR	Management	For	For
1. 5	ELECT CHARLES R. EITEL AS A DIRECTOR	Management	For	For
1. 6	ELECT R. GLENN HUBBARD, PH.D. AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT M.C. JISCHKE, PH.D. AS A DIRECTOR	Management	For	For
1. 8	ELECT L. BEN LYTLE AS A DIRECTOR	Management	For	For
1. 9	ELECT DENNIS D. OKLAK AS A DIRECTOR	Management	For	For
1. 10	ELECT WILLIAM O. MCCOY AS A DIRECTOR	Management	For	For
1. 11	ELECT JACK R. SHAW AS A DIRECTOR	Management	For	For
1. 12	ELECT ROBERT J. WOODWARD, JR. AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE REAPPOINTMENT OF KPMG LLP AS ITS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: EQUITY RESIDENTIAL MEETING DATE: 06/10/2008
TICKER: EQR     SECURITY ID: 29476L107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOHN W. ALEXANDER AS A DIRECTOR	Management	For	For
1. 2	ELECT CHARLES L. ATWOOD AS A DIRECTOR	Management	For	For
1. 3	ELECT STEPHEN O. EVANS AS A DIRECTOR	Management	For	For
1. 4	ELECT BOONE A. KNOX AS A DIRECTOR	Management	For	For
1. 5	ELECT JOHN E. NEAL AS A DIRECTOR	Management	For	For
1. 6	ELECT DAVID J. NEITHERCUT AS A DIRECTOR	Management	For	For
1. 7	ELECT DESIREE G. ROGERS AS A DIRECTOR	Management	For	For
1. 8	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1. 9	ELECT GERALD A. SPECTOR AS A DIRECTOR	Management	For	For
1. 10	ELECT B. JOSEPH WHITE AS A DIRECTOR	Management	For	For
1. 11	ELECT SAMUEL ZELL AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITOR FOR THE YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GENERAL GROWTH PROPERTIES, INC. MEETING DATE: 05/14/2008
TICKER: GGP     SECURITY ID: 370021107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MATTHEW BUCKSBAUM AS A DIRECTOR	Management	For	For
1. 2	ELECT BERNARD FREIBAUM AS A DIRECTOR	Management	For	For
1. 3	ELECT BETH STEWART AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE SELECTION OF INDEPENDENT PUBLIC ACCOUNTANTS.	Management	For	For
3	STOCKHOLDER PROPOSAL TO DECLASSIFY THE BOARD OF DIRECTORS.	Shareholder	Against	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HCP, INC. MEETING DATE: 04/24/2008
TICKER: HCP     SECURITY ID: 40414L109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROBERT R. FANNING, JR. AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT JAMES F. FLAHERTY III AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT CHRISTINE N. GARVEY AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT DAVID B. HENRY AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT LAURALEE E. MARTIN AS A DIRECTOR	Management	For	For
1. 6	ELECT MICHAEL D. MCKEE AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT HAROLD M. MESSMER, JR. AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT PETER L. RHEIN AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT KENNETH B. ROATH AS A DIRECTOR	Management	For	Withhold
1. 10	ELECT RICHARD M. ROSENBERG AS A DIRECTOR	Management	For	Withhold
1. 11	ELECT JOSEPH P. SULLIVAN AS A DIRECTOR	Management	For	Withhold
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS HCP S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HEALTHCARE REALTY TRUST INCORPORATED MEETING DATE: 05/13/2008
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
2	PROPOSAL TO RATIFY THE APPOINTMENT OF BDO SEIDMAN, LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HIGHWOODS PROPERTIES, INC. MEETING DATE: 05/15/2008
TICKER: HIW     SECURITY ID: 431284108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT THOMAS W. ADLER AS A DIRECTOR	Management	For	For
1. 2	ELECT KAY N. CALLISON AS A DIRECTOR	Management	For	For
1. 3	ELECT O. TEMPLE SLOAN, JR. AS A DIRECTOR	Management	For	For
2	RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	APPROVAL OF A PROPOSED CHARTER AMENDMENT TO DECLASSIFY THE BOARD OF DIRECTORS.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HILTON HOTELS CORPORATION MEETING DATE: 09/18/2007
TICKER: HLT     SECURITY ID: 432848109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO ADOPT THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JULY 3, 2007, BY AND AMONG HILTON HOTELS CORPORATION, A DELAWARE CORPORATION, BH HOTELS LLC, A DELAWARE LIMITED LIABILITY COMPANY, AND BH HOTELS ACQUISITION INC., A DELAWARE CORPORATION.	Management	For	For
2	TO APPROVE AN ADJOURNMENT OF THE SPECIAL MEETING, IF NECESSARY OR APPROPRIATE, TO SOLICIT ADDITIONAL PROXIES.	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: HOME PROPERTIES, INC. MEETING DATE: 05/01/2008
TICKER: HME     SECURITY ID: 437306103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOSH E. FIDLER AS A DIRECTOR	Management	For	For
1. 2	ELECT ALAN L. GOSULE AS A DIRECTOR	Management	For	For
1. 3	ELECT LEONARD F. HELBIG, III AS A DIRECTOR	Management	For	For
1. 4	ELECT ROGER W. KOBER AS A DIRECTOR	Management	For	For
1. 5	ELECT NORMAN P. LEENHOUTS AS A DIRECTOR	Management	For	For
1. 6	ELECT NELSON B. LEENHOUTS AS A DIRECTOR	Management	For	For
1. 7	ELECT EDWARD J. PETTINELLA AS A DIRECTOR	Management	For	For
1. 8	ELECT CLIFFORD W. SMITH, JR. AS A DIRECTOR	Management	For	For
1. 9	ELECT PAUL L. SMITH AS A DIRECTOR	Management	For	For
1. 10	ELECT AMY L. TAIT AS A DIRECTOR	Management	For	For
2	TO APPROVE THE COMPANY S 2008 STOCK BENEFIT PLAN.	Management	For	For
3	TO APPROVE AN AMENDMENT TO THE COMPANY S DEFERRED BONUS PLAN.	Management	For	For
4	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: HOMEBANC CORP. MEETING DATE: 07/11/2007
TICKER: HMBN     SECURITY ID: 43738R109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT GLENN T. AUSTIN, JR. AS A DIRECTOR	Management	For	None
1. 2	ELECT LAWRENCE W. HAMILTON AS A DIRECTOR	Management	For	None
1. 3	ELECT WARREN Y. JOBE AS A DIRECTOR	Management	For	None
1. 4	ELECT JOEL K. MANBY AS A DIRECTOR	Management	For	None
1. 5	ELECT ROBERT C. PATTON AS A DIRECTOR	Management	For	None
1. 6	ELECT BONNIE L. PHIPPS AS A DIRECTOR	Management	For	None
1. 7	ELECT KEVIN D. RACE AS A DIRECTOR	Management	For	None
1. 8	ELECT JOHN W. SPIEGEL AS A DIRECTOR	Management	For	None
1. 9	ELECT JAMES B. WITHEROW AS A DIRECTOR	Management	For	None
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS HOMEBANC CORP. S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2007.	Management	For	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: INLAND REAL ESTATE CORPORATION MEETING DATE: 06/11/2008
TICKER: IRC     SECURITY ID: 457461200
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROLAND W. BURRIS AS A DIRECTOR	Management	For	For
1. 2	ELECT THOMAS P. D'ARCY AS A DIRECTOR	Management	For	For
1. 3	ELECT DANIEL L. GOODWIN AS A DIRECTOR	Management	For	For
1. 4	ELECT JOEL G. HERTER AS A DIRECTOR	Management	For	For
1. 5	ELECT HEIDI N. LAWTON AS A DIRECTOR	Management	For	For
1. 6	ELECT THOMAS H. MCAULEY AS A DIRECTOR	Management	For	For
1. 7	ELECT THOMAS R. MCWILLIAMS AS A DIRECTOR	Management	For	For
1. 8	ELECT JOEL D. SIMMONS AS A DIRECTOR	Management	For	For
2	RATIFY THE APPOINTMENT OF KPMG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KILROY REALTY CORPORATION MEETING DATE: 05/20/2008
TICKER: KRC     SECURITY ID: 49427F108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JOHN B. KILROY, SR. AS A DIRECTOR	Management	For	For
1. 2	ELECT EDWARD F. BRENNAN PH.D. AS A DIRECTOR	Management	For	For
1. 3	ELECT SCOTT S. INGRAHAM AS A DIRECTOR	Management	For	For
2	STOCKHOLDER PROPOSAL	Shareholder	Against	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: KIMCO REALTY CORPORATION MEETING DATE: 05/13/2008
TICKER: KIM     SECURITY ID: 49446R109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT M. KIMMEL AS A DIRECTOR	Management	For	For
1. 2	ELECT M. COOPER AS A DIRECTOR	Management	For	For
1. 3	ELECT R. DOOLEY AS A DIRECTOR	Management	For	For
1. 4	ELECT M. FLYNN AS A DIRECTOR	Management	For	For
1. 5	ELECT J. GRILLS AS A DIRECTOR	Management	For	For
1. 6	ELECT D. HENRY AS A DIRECTOR	Management	For	For
1. 7	ELECT F.P. HUGHES AS A DIRECTOR	Management	For	For
1. 8	ELECT F. LOURENSO AS A DIRECTOR	Management	For	For
1. 9	ELECT R. SALTZMAN AS A DIRECTOR	Management	For	For
1. 10	ELECT P. COVIELLO AS A DIRECTOR	Management	For	For
2	A PROPOSAL TO APPROVE A RECOMMENDATION BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS THAT THE NUMBER OF SHARES OF THE COMPANY S COMMON STOCK, PAR VALUE $0.01 PER SHARE, SUBJECT TO OPTION UNDER THE COMPANY S 1998 EQUITY PARTICIPATION PLAN BE INCREASED BY 5,000,000.	Management	For	For
3	THE RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LAND SECURITIES GROUP PLC R.E.I.T MEETING DATE: 07/17/2007
TICKER: --     SECURITY ID: G5375M118
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE THE REPORT AND FINANCIAL STATEMENTS FOR THE YE 31 MAR 2007, TOGETHER WITH THE REPORT OF THE AUDITORS	Management	For	For
2	APPROVE THE INTERIM DIVIDEND PAID IN THE YEAR AND GRANT AUTHORITY FOR THE PAYMENT OF A FINAL DIVIDEND FOR THE YEAR OF 34.0P PER SHARE	Management	For	For
3	APPROVE THE DIRECTORS REMUNERATION REPORT FOR THE YE 31 MAR 2007	Management	For	For
4	RE-ELECT MR. PAUL MYNERS AS A DIRECTOR	Management	For	For
5	RE-ELECT MR. BO LERENIUS AS A DIRECTOR	Management	For	For
6	RE-ELECT MR. FRANCIS SALWAY AS A DIRECTOR	Management	For	For
7	RE-ELECT MR. MIKE HUSSEY AS A DIRECTOR	Management	For	For
8	RE-ELECT MR. STUART ROSE AS A DIRECTOR	Management	For	For
9	RE-APPOINT PRICEWATERHOUSECOOPERS LLP AS THE AUDITORS OF THE COMPANY FOR THE ENSUING YEAR	Management	For	For
10	AUTHORIZE THE DIRECTORS TO DETERMINE THE REMUNERATION OF THE AUDITORS	Management	For	For
11	TRANSACT ANY OTHER BUSINESS	N/A	N/A	N/A
12	AUTHORIZE THE DIRECTORS, IN ACCORDANCE WITH SECTION 80 OF THE COMPANIES ACT 1985, TO ALLOT RELEVANT SECURITIES SECTION 80(2) OF THE ACT UP TO AN AGGREGATE NOMINAL AMOUNT OF GBP 12,958,150.50; AUTHORITY EXPIRES AT THE CONCLUSION OF THE NEXT AGM OF THE COMPANY; AND THE DIRECTORS MAY ALLOT RELEVANT SECURITIES AFTER THE EXPIRY OF THIS AUTHORITY IN PURSUANCE OF SUCH AN OFFER OR AGREEMENT MADE PRIOR TO SUCH EXPIRY	Management	For	For
13	AUTHORIZE THE DIRECTORS, PURSUANT TO SECTION 95 OF THE COMPANIES ACT 1985, TOALLOT EQUITY SECURITIES SECTION 94(2) OF THE ACT FOR CASH PURSUANT TO THE AUTHORITY CONFERRED BY RESOLUTION 11 AND/OR WHERE SUCH ALLOTMENT CONSTITUTES AN ALLOTMENT OF EQUITY SECURITIES BY VIRTUE OF SECTION 94(3A) OF THE SAID ACT, DISAPPLYING THE STATUTORY PRE-EMPTION RIGHTS SECTION 89(1), PROVIDED THAT THIS POWER IS LIMITED TO THE ALLOTMENT OF EQUITY SECURITIES: I) IN CONNECTION WITH A RIGHT ISSUE, OPEN OFFER OR OTHER O...	Management	For	For
14	AUTHORIZE THE COMPANY TO PURCHASE ITS OWN ORDINARY SHARES IN ACCORDANCE WITH SECTION 166 OF THE COMPANIES ACT 1985 BY WAY OF MARKET PURCHASE SECTION 163(3) OF THE COMPANIES ACT 1985 OF UP 47,041,849 ORDINARY SHARES OF 10P, AT A MINIMUM PRICE OF 10P AND UP TO 105% OF THE AVERAGE MIDDLE MARKET QUOTATIONS FOR SUCH SHARES DERIVED FROM THE LONDON STOCK EXCHANGE DAILY OFFICIAL LIST, OVER THE PREVIOUS 5 BUSINESS DAYS; AUTHORITY EXPIRES AT THE CONCLUSION OF THE AGM OF THE COMPANY IN 2008 ; THE COMPANY, ...	Management	For	For
15	AUTHORIZE THE COMPANY TO SERVE ANY NOTICE OR SEND OR SUPPLY ANY OTHER DOCUMENT OR INFORMATION TO A MEMBER OR WHERE APPLICABLE A NOMINEE BY MAKING THE NOTICE OR DOCUMENT OR INFORMATION AVAILABLE ON THE COMPANY S WEBSITE OR BY USING ELECTRONIC MEANS	Management	For	For
16	AUTHORIZE THE COMPANY, IN ACCORDANCE WITH SECTION 347C OF THE COMPANIES ACT 1985 THE ACT AND, IN ACCORDANCE WITH SECTION 347D OF THE ACT ANY OTHER COMPANY WHICH IS A SUBSIDIARY WHOLLY OWNED OR OTHERWISE OF THE COMPANY DURING THE PERIOD TO WHICH THIS RESOLUTION RELATES, TO MAKE DONATIONS TO EU POLITICAL ORGANIZATIONS AND TO INCUR EU POLITICAL EXPENDITURE UP TO A MAXIMUM AGGREGATE NOMINAL AMOUNT OF GBP 20,000 PER ANNUM SECTION 347A OF THE ACT; AUTHORITY EXPIRES AT THE CONCLUSION OF THE AGM OF THE ...	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: LASALLE HOTEL PROPERTIES MEETING DATE: 04/24/2008
TICKER: LHO     SECURITY ID: 517942108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT JON E. BORTZ AS A DIRECTOR	Management	For	For
1. 2	ELECT DONALD A. WASHBURN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO CONSIDER AND ACT UPON ANY OTHER MATTERS THAT MAY PROPERLY BE BROUGHT BEFORE THE ANNUAL MEETING AND AT ANY ADJOURNMENTS OR POSTPONEMENTS THEREOF.	Management	For	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: MEDICAL PROPERTIES TRUST, INC. MEETING DATE: 05/22/2008
TICKER: MPW     SECURITY ID: 58463J304
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT EDWARD K. ALDAG, JR. AS A DIRECTOR	Management	For	For
1. 2	ELECT VIRGINIA A. CLARKE AS A DIRECTOR	Management	For	For
1. 3	ELECT G. STEVEN DAWSON AS A DIRECTOR	Management	For	For
1. 4	ELECT R. STEVEN HAMNER AS A DIRECTOR	Management	For	For
1. 5	ELECT ROBERT E. HOLMES, PH.D. AS A DIRECTOR	Management	For	For
1. 6	ELECT SHERRY A. KELLETT AS A DIRECTOR	Management	For	For
1. 7	ELECT WILLIAM G. MCKENZIE AS A DIRECTOR	Management	For	For
1. 8	ELECT L. GLENN ORR, JR. AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF KPMG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PROLOGIS MEETING DATE: 05/09/2008
TICKER: PLD     SECURITY ID: 743410102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT STEPHEN L. FEINBERG AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT GEORGE L. FOTIADES AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT CHRISTINE N. GARVEY AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT LAWRENCE V. JACKSON AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT DONALD P. JACOBS AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT JEFFREY H. SCHWARTZ AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT D. MICHAEL STEUERT AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT J. ANDRE TEIXEIRA AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT WILLIAM D. ZOLLARS AS A DIRECTOR	Management	For	Withhold
1. 10	ELECT ANDREA M. ZULBERTI AS A DIRECTOR	Management	For	Withhold
2	RATIFY THE APPOINTMENT OF THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PUBLIC STORAGE MEETING DATE: 05/08/2008
TICKER: PSA     SECURITY ID: 74460D109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT B. WAYNE HUGHES AS A DIRECTOR	Management	For	For
1. 2	ELECT RONALD L. HAVNER, JR. AS A DIRECTOR	Management	For	For
1. 3	ELECT HARVEY LENKIN AS A DIRECTOR	Management	For	For
1. 4	ELECT DANN V. ANGELOFF AS A DIRECTOR	Management	For	For
1. 5	ELECT WILLIAM C. BAKER AS A DIRECTOR	Management	For	For
1. 6	ELECT JOHN T. EVANS AS A DIRECTOR	Management	For	For
1. 7	ELECT URI P. HARKHAM AS A DIRECTOR	Management	For	For
1. 8	ELECT B. WAYNE HUGHES, JR. AS A DIRECTOR	Management	For	For
1. 9	ELECT GARY E. PRUITT AS A DIRECTOR	Management	For	For
1. 10	ELECT DANIEL C. STATON AS A DIRECTOR	Management	For	For
2	RATIFICATION OF 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: SIMON PROPERTY GROUP, INC. MEETING DATE: 05/08/2008
TICKER: SPG     SECURITY ID: 828806109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT BIRCH BAYH AS A DIRECTOR	Management	For	For
1. 2	ELECT MELVYN E. BERGSTEIN AS A DIRECTOR	Management	For	For
1. 3	ELECT LINDA WALKER BYNOE AS A DIRECTOR	Management	For	For
1. 4	ELECT KAREN N. HORN AS A DIRECTOR	Management	For	For
1. 5	ELECT REUBEN S. LEIBOWITZ AS A DIRECTOR	Management	For	For
1. 6	ELECT J. ALBERT SMITH, JR. AS A DIRECTOR	Management	For	For
1. 7	ELECT PIETER S. VAN DEN BERG AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2008.	Management	For	For
3	TO APPROVE THE AMENDED SIMON PROPERTY GROUP, L.P. 1998 STOCK INCENTIVE PLAN.	Management	For	For
4	THE STOCKHOLDER PROPOSAL TO ADOPT A PAY FOR SUPERIOR PERFORMANCE PRINCIPLE (SIC).	Shareholder	Against	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SL GREEN REALTY CORP. MEETING DATE: 06/25/2008
TICKER: SLG     SECURITY ID: 78440X101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MARC HOLLIDAY AS A DIRECTOR	Management	For	For
1. 2	ELECT JOHN S. LEVY AS A DIRECTOR	Management	For	For
2	TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
3	TO APPROVE AND RATIFY THE ADOPTION OF OUR 2008 EMPLOYEE STOCK PURCHASE PLAN IN ORDER TO INCREASE THE NUMBER OF SHARES THAT MAY BE ISSUED PURSUANT TO SUCH 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: SOVRAN SELF STORAGE, INC. MEETING DATE: 05/21/2008
TICKER: SSS     SECURITY ID: 84610H108
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROBERT J. ATTEA AS A DIRECTOR	Management	For	For
1. 2	ELECT KENNETH F. MYSZKA AS A DIRECTOR	Management	For	For
1. 3	ELECT JOHN E. BURNS AS A DIRECTOR	Management	For	For
1. 4	ELECT MICHAEL A. ELIA AS A DIRECTOR	Management	For	For
1. 5	ELECT ANTHONY P. GAMMIE AS A DIRECTOR	Management	For	For
1. 6	ELECT CHARLES E. LANNON AS A DIRECTOR	Management	For	For
2	APPROVAL OF AMENDMENT TO THE DEFERRED COMPENSATION PLAN FOR DIRECTORS OF SOVRAN SELF STORAGE, INC.	Management	For	For
3	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: STARWOOD HOTELS & RESORTS WORLDWIDE MEETING DATE: 04/30/2008
TICKER: HOT     SECURITY ID: 85590A401
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ADAM ARON AS A DIRECTOR	Management	For	Withhold
1. 2	ELECT CHARLENE BARSHEFSKY AS A DIRECTOR	Management	For	Withhold
1. 3	ELECT BRUCE DUNCAN AS A DIRECTOR	Management	For	Withhold
1. 4	ELECT LIZANNE GALBREATH AS A DIRECTOR	Management	For	Withhold
1. 5	ELECT ERIC HIPPEAU AS A DIRECTOR	Management	For	Withhold
1. 6	ELECT STEPHEN QUAZZO AS A DIRECTOR	Management	For	Withhold
1. 7	ELECT THOMAS RYDER AS A DIRECTOR	Management	For	Withhold
1. 8	ELECT FRITS VAN PAASSCHEN AS A DIRECTOR	Management	For	Withhold
1. 9	ELECT KNEELAND YOUNGBLOOD AS A DIRECTOR	Management	For	Withhold
2	RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: STRATEGIC HOTELS & RESORTS INC. MEETING DATE: 05/22/2008
TICKER: BEE     SECURITY ID: 86272T106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ROBERT P. BOWEN AS A DIRECTOR	Management	For	For
1. 2	ELECT MICHAEL W. BRENNAN AS A DIRECTOR	Management	For	For
1. 3	ELECT EDWARD C. COPPOLA AS A DIRECTOR	Management	For	For
1. 4	ELECT KENNETH FISHER AS A DIRECTOR	Management	For	For
1. 5	ELECT LAURENCE S. GELLER AS A DIRECTOR	Management	For	For
1. 6	ELECT JAMES A. JEFFS AS A DIRECTOR	Management	For	For
1. 7	ELECT SIR DAVID M.C. MICHELS AS A DIRECTOR	Management	For	For
1. 8	ELECT WILLIAM A. PREZANT AS A DIRECTOR	Management	For	For
2	APPROVAL OF THE AMENDED AND RESTATED 2004 INCENTIVE PLAN.	Management	For	For
3	RATIFICATION OF THE APPOINTMENT OF DELOITTE & TOUCHE LLP AS INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TANGER FACTORY OUTLET CENTERS, INC. MEETING DATE: 05/16/2008
TICKER: SKT     SECURITY ID: 875465106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT STANLEY K. TANGER AS A DIRECTOR	Management	For	For
1. 2	ELECT STEVEN B. TANGER AS A DIRECTOR	Management	For	For
1. 3	ELECT JACK AFRICK AS A DIRECTOR	Management	For	For
1. 4	ELECT WILLIAM G. BENTON AS A DIRECTOR	Management	For	For
1. 5	ELECT THOMAS E. ROBINSON AS A DIRECTOR	Management	For	For
1. 6	ELECT ALLAN L. SCHUMAN AS A DIRECTOR	Management	For	For
2	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE COMPANY S INDEPENDENT REGISTERED ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: UDR, INC. MEETING DATE: 05/30/2008
TICKER: UDR     SECURITY ID: 902653104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT KATHERINE A. CATTANACH AS A DIRECTOR	Management	For	For
1. 2	ELECT ERIC J. FOSS AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT P. FREEMAN AS A DIRECTOR	Management	For	For
1. 4	ELECT JON A. GROVE AS A DIRECTOR	Management	For	For
1. 5	ELECT JAMES D. KLINGBEIL AS A DIRECTOR	Management	For	For
1. 6	ELECT ROBERT C. LARSON AS A DIRECTOR	Management	For	For
1. 7	ELECT THOMAS R. OLIVER AS A DIRECTOR	Management	For	For
1. 8	ELECT LYNNE B. SAGALYN AS A DIRECTOR	Management	For	For
1. 9	ELECT MARK J. SANDLER AS A DIRECTOR	Management	For	For
1. 10	ELECT THOMAS W. TOOMEY AS A DIRECTOR	Management	For	For
1. 11	ELECT THOMAS C. WAJNERT AS A DIRECTOR	Management	For	For
2	PROPOSAL TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP TO SERVE AS OUR INDEPENDENT AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2008.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: VENTAS, INC. MEETING DATE: 05/19/2008
TICKER: VTR     SECURITY ID: 92276F100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT DEBRA A. CAFARO AS A DIRECTOR	Management	For	For
1. 2	ELECT DOUGLAS CROCKER II AS A DIRECTOR	Management	For	For
1. 3	ELECT RONALD G. GEARY AS A DIRECTOR	Management	For	For
1. 4	ELECT JAY M. GELLERT AS A DIRECTOR	Management	For	For
1. 5	ELECT ROBERT D. REED AS A DIRECTOR	Management	For	For
1. 6	ELECT SHELI Z. ROSENBERG AS A DIRECTOR	Management	For	For
1. 7	ELECT JAMES D. SHELTON AS A DIRECTOR	Management	For	For
1. 8	ELECT THOMAS C. THEOBALD AS A DIRECTOR	Management	For	For
2	DIRECTORS PROPOSAL: TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR FISCAL YEAR 2008.	Management	For	For
3	DIRECTOR S PROPOSAL: TO APPROVE AN AMENDMENT TO THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO ELIMINATE THE BOARD S ABILITY TO GRANT WAIVERS FROM THE CONSTRUCTIVE OWNERSHIP LIMITATIONS IN ARTICLE X THEREOF RELATING TO VENTA S STATUS AS A QUALIFIED REAL ESTATE INVESTMENT TRUST UNDER U.S. FEDERAL INCOME TAX LAW.	Management	For	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: VORNADO REALTY TRUST MEETING DATE: 05/15/2008
TICKER: VNO     SECURITY ID: 929042109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT ANTHONY W. DEERING AS A DIRECTOR	Management	For	For
1. 2	ELECT MICHAEL LYNNE AS A DIRECTOR	Management	For	For
1. 3	ELECT ROBERT H. SMITH AS A DIRECTOR	Management	For	For
1. 4	ELECT RONALD G. TARGAN AS A DIRECTOR	Management	For	For
2	RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.	Management	For	For
3	SHAREHOLDER PROPOSAL REGARDING MAJORITY VOTING FOR TRUSTEES.	Shareholder	Against	For
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: WASHINGTON REAL ESTATE INVESTMENT TR MEETING DATE: 07/12/2007
TICKER: WRE     SECURITY ID: 939653101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1. 1	ELECT MR. EDMUND B. CRONIN JR AS A DIRECTOR	Management	For	For
1. 2	ELECT MR. JOHN P. MCDANIEL AS A DIRECTOR	Management	For	For
2	DECLARATION OF TRUST AMENDMENTS AUTHORIZING PREFERRED SHARES.	Management	For	Against
3	THE ADOPTION OF THE 2007 OMNIBUS LONG-TERM INCENTIVE PLAN.	Management	For	Against
Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

POWER OF ATTORNEY

I, the undersigned Treasurer of the following investment companies:

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

in addition to any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individual serves as Treasurer (collectively, the "Funds"), hereby constitute and appoint Claire Walpole my true and lawful attorney-in-fact, with full power of substitution, and with full power to sign for me and in my name in the appropriate capacity, all Reports of the Proxy Voting Records of the Funds on Form N-PX under the Investment Company Act of 1940, as amended (the "Act"), or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorney-in-fact deems necessary or appropriate to cause such Form to be completed and filed in accordance with the Act and all related requirements of the Securities and Exchange Commission. I hereby ratify and confirm all that said attorney-in-fact or her substitute may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after June 11, 2008.

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

/s/ Kenneth B. Robins

Kenneth B. Robins

Treasurer