497 1 main.htm

Supplement to
Fidelity Targeted International Equity Funds®
December 29, 2007
Prospectus

Fidelity® China Region Fund is composed of multiple classes of shares. References to the fund are deemed to include class where applicable.

Fidelity Emerging Markets Fund is composed of multiple classes of shares. References to the fund are deemed to include class where applicable.

The following information replaces the similar information found under the heading "Year-by-Year Returns" in the "Fund Summary" section on page 8.

China Region

Calendar Years

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

-5.34%

84.90%

-17.58%

-10.49%

-15.08%

45.49%

11.55%

14.46%

29.67%

46.26%



During the periods shown in the chart for China Region:

Returns

Quarter ended

Highest Quarter Return

38.17%

December 31, 1999

Lowest Quarter Return

-22.99%

June 30, 1998

Year-to-Date Return

-13.28%

March 31, 2008

Emerging Markets

Calendar Years

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

-26.56%

70.50%

-32.95%

-2.48%

-6.93%

48.80%

22.94%

44.31%

33.39%

45.06%



During the periods shown in the chart for Emerging Markets:

Returns

Quarter ended

Highest Quarter Return

33.41%

December 31, 1999

Lowest Quarter Return

-24.44%

September 30, 1998

Year-to-Date Return

-13.32%

March 31, 2008

<R>TIF-08-03 May 13, 2008
1.483702.156</R>

The following information replaces the similar information found under the heading "Average Annual Returns" in the "Fund Summary" section on page 12.

For the periods ended
December 31, 2007

Past 1
year

Past 5
years

Past 10
years

China Region

Return Before Taxes

46.26%

28.64%

14.47%

<R>Return After Taxes on Distributions</R>

<R> 42.77%</R>

<R> 27.75%</R>

<R> 13.63%</R>

<R>Return After Taxes on Distributions and Sale of Fund Shares</R>

<R> 33.46%</R>

<R> 25.51%</R>

<R> 12.64%</R>

MSCI® Golden Dragon Index (reflects no deduction for fees, expenses, or taxes)

37.97%

29.24%

9.83%

Hang Seng Index (reflects no deduction for fees, expenses, or taxes)

42.72%

28.47%

13.33%

Fidelity® China Region Fund Linked Index (reflects no deduction for fees, expenses, or taxes)

37.79%

27.26%

13.56%

LipperSM China Region Funds Average (reflects no deduction for sales charges or taxes)

55.17%

36.15%

15.08%

Emerging Markets

Return Before Taxes

45.06%

38.56%

14.56%

Return After Taxes on Distributions

44.27%

38.42%

14.48%

Return After Taxes on Distributions and Sale of Fund Shares

30.73%

35.17%

13.26%

MSCI EM Index (reflects no deduction for fees, expenses, or taxes)

39.78%

37.46%

14.53%

The following information replaces the biographical information for Allan Liu found in the "Fund Management" section on page 30.

<R>Jessica Tan is manager of Southeast Asia, which she has managed since April 2008. Since joining Fidelity Investments in 2000, Ms. Tan has worked as an analyst and portfolio manager managing funds for investors outside the United States.</R>